Mark Weaden
Cryptocurrency payments are now being offered by over 85,000 merchants in Switzerland
A collaboration between Worldline and Bitcoin Suisse sees a new payment solution enabling some 85,000 merchants across Switzerland, accepting payments from major coins such as Bitcoin and Ether.
Switzerland is actually home to one of the havens of cryptocurrency development and innovation. A small lakeside town called Zug is the residence of many crypto startups and will almost certainly have played a part in the decision to push WL Crypto Payments mobile app.
The Payment App
Worldline is a French payment services company and Bitcoin Suisse is a crypto-financial services company, together they’re offering an integrated mobile app offering payments via digital assets called WL Crypto Payments. The tool is simple because it allows merchants accepting payments with Worldline to now receive payments using Bitcoin and Ether on point-of-sale (POS) and e-commerce services.
What makes the whole process particularly interesting, is the fact all merchants need to do is download the WL Crypto Payments mobile app, then install the plugin to connect the app to their online store. The vast majority of customers that are interested in paying using cryptocurrency have wallets and are well-aware of how to make payments, as these customers are well-versed on cryptocurrency as early adopters.
How does it work?
The prices displayed in Swiss Francs (CHF) will be shown in real-time cryptocurrency (Bitcoin or Ether) value, whichever digital coin the customers select. The price at that time is what will be paid immediately to the merchant, at which point the conversion is made paying them in CHF.
This isn’t the first payment system we’ve seen this year, but it’s one of the first we’ve seen offering such a comprehensive service in any one European country. But, it’s no surprise it’s happening in Switzerland. The aim is to provide this service going forward, bringing together fiat currency and crypto through smooth and swift payments in all markets.
The move is certainly a historic milestone for the companies involved. Not only that, but those monitoring the crypto space will know that mainstream adoption is increasing across all sectors and we’re likely to see a lot more of these kinds of payment options in the near future.
