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Switzerland’s Largest Online Retailer Starts Accepting 10 Cryptocurrencies

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The largest Swiss online retailer, Digitec Galaxus, has started accepting crypto payments at its two stores. Customers can choose from 10 cryptocurrencies to pay with including BTC, BCH, BNB, ETH, TRX, OMG, and XRP. One of the stores specializes in consumer electronics while the other focuses on everyday needs.

Also read: SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval

Digitec Galaxus Accepts Crypto Payments

Digitec Galaxus AG announced Tuesday that customers can now pay for their purchases with cryptocurrencies at its two online shops: digitec and Galaxus. Ten cryptocurrencies are supported — BTC, BCH, BSV, BNB, ETH, LTC, NEO, OMG, TRX, and XRP.

Switzerland's Largest Online Retailer Starts Accepting 10 Cryptocurrencies
Checkout page on galaxus.ch.

Claudio Schaad, leader of Team Spectre, one of the teams that make up the engineering department at Digitec Galaxus AG, discussed the new payment option in a blog post on his company’s website. “We’ve been looking into cryptocurrencies for a while now,” he revealed. The post explains that “instead of creating an own wallet or even cryptocurrency, digicon or the such, Spectre chose [to] work with a company called Coinify,” adding:

In simpler terms: while shopping, if your purchase price exceeds 200 francs, you have the option to pay with cryptocurrencies. What arrives on digitec’s end are Swiss francs.

Digitec specializes in IT, consumer electronics and telecommunications goods while Galaxus claims to be the largest online department store in Switzerland with a growing range of products for everyday needs. The two stores form Digitec Galaxus AG, its website describes.

Switzerland’s Largest Online Retailer Now Accepts 10 Cryptocurrencies

According to Oliver Herren, co-founder and CIO of Digitec Galaxus, the company currently has around 2.7 million items for sale, from shoehorns to wheat beer to gaming PCs. He was quoted as saying:

Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce — we want to support this development.

Paying With Cryptocurrencies

A blog post on Galaxus’ website details that “The new payment option was created as part of a pilot project together with the Swiss e-payment specialist Datatrans AG,” which works with Danish crypto payment provider Coinify.

Customers shopping on digitec or Galaxus can choose to pay with cryptocurrency at checkout. They will be redirected to a page on Coinify which displays the amount due in BTC with a QR code. Customers can choose among the 10 supported cryptocurrencies and complete the checkout process. Prices are locked in for 15 minutes.

Switzerland's Largest Online Retailer Starts Accepting 10 Cryptocurrencies

When choosing a cryptocurrency other than BTC, customers are asked to provide an address so that funds can be returned should an error occur. Furthermore, the company warns of a processing delay when paying with other coins.

Switzerland's Largest Online Retailer Starts Accepting 10 Cryptocurrencies

The blog post further notes that “Normally, the payment confirmation by Coinify takes place within a few minutes,” adding:

Digitec Galaxus does not charge any fees for cryptocurrency payments. Coinify charges a conversion fee of 1.5% of the purchase amount. Other, but small, transaction fees will be charged depending on the currency, as well as how fast the transaction is to be confirmed.

What do you think of Digitec Galaxus accepting 10 cryptocurrencies? Let us know in the comments section below.


Images courtesy of Shutterstock, Coinify, and Digitec Galaxus AG.


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The post Switzerland’s Largest Online Retailer Starts Accepting 10 Cryptocurrencies appeared first on Bitcoin News.

Spain’s 2gether Unveils Crypto Debit Card, as Polispay Is Forced to Cancel Its Mastercard

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2gether, a Spanish banking platform, has announced the launch of its prepaid Visa debit card that allows holders to pay for goods and services using cryptocurrency. Customers can use the card to make payment in euros or via bitcoin core, bitcoin cash, ripple, ethereum, EOS, litecoin and stellar.

Also read: Cboe Discontinues Bitcoin Futures for Now

Fee-Free Card Available for Users in the Eurozone

In a statement, 2gether revealed that the card “instantly” converts the cryptocurrency to fiat currency. Users within the 19-member Eurozone economic bloc can utilize the card without paying any fees. The Madrid-based banking startup believes that with its prepaid card it is solving problems associated with making purchases using virtual currencies.

“Currently, spending crypto is a long and difficult process involving exchanges, personal keys, and lots of waiting,” the company stated. Customers are expected to complete full KYC verification to use the card. Thereafter, they will be able to manage their balances online through a mobile app that also allows users to trade cryptocurrencies. 2gether, which was founded in 2016, has stated that purchases are offered at “no mark-ups to exchange prices.”

Spain's 2gether Unveils Crypto Debit Card, as Polispay Is Forced to Cancel Its Mastercard

Although there has been significant growth in cryptocurrency use throughout the world, most companies and service providers have yet to fully embrace the technology. Adding crypto functionalities to existing card platforms will help to improve adoption. 2gether explained that the latest development will allow it to incorporate Artificial Intelligence and machine learning technologies to assist with financial management, product choices, and investment decisions.

“2gether is developing the bank of the future, where consumers can take full ownership and control of the services they use and go beyond solely interacting with euros and dollars,” Ramón Ferraz, chief excutive officer of 2gether, opined.

Polispay Cancels Crypto Debit Card

Meanwhile, Mexico-based Polispay has canceled its Mastercard cryptocurrency debit card for users outside of the South American country. The company blames its Mexican card provider for violating Mastercard rules. In a statement released March 18, Polispay lamented:

It has come to our knowledge … that our provider was having a set of problems with Mastercard. Mastercard never gave them permission to sell cards outside of Mexico, a situation we were unaware of as we had been guaranteed our provider had the faculties and required licensing to do so.

With immediate effect, Polispay will no longer to be able to issue its prepaid crypto debit card outside of Mexico. Cards already in existence outside of the country no longer work as Mastercard will not validate their transactions. Polispay deposits, shifts and new/existing card orders have been suspended until further notice.

Spain's 2gether Unveils Crypto Debit Card, as Polispay Is Forced to Cancel Its Mastercard

Polispay has committed to refunding users in BTC whose cards have been invalidated. The company said it is “working on ways to restore the worldwide availability of the platform [as well as] searching for new card providers and evaluating different options,” but warned the process “will take time.”

What do you think about onboarding crypto payments to traditional cards like Mastercard or Visa? Let us know in the comments section below.


Images courtesy of Shutterstock and 2gether.


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The post Spain’s 2gether Unveils Crypto Debit Card, as Polispay Is Forced to Cancel Its Mastercard appeared first on Bitcoin News.