Austrian Holders will Soon be Able to Spend Crypto in Over 2500 Locations
Cryptocurrency holders will starting this summer, be able to spend their crypto assets using A1 Payment. There are over 2500 points of acceptance for the A1 5Gi network, belonging to the country’s largest mobile network shops.
Austrian Fintech Company Salamantex announced in a press release it had integrated its Crypto Payment Service Software with the A1 Payment platform. Accordingly, merchants will start accepting Bitcoin (BTC), Ether (ETH) or Dash, as an alternative to cash or credit cards, in summer 2020. The firm will roll the initiative to multiple outlets, and it’s already inviting retailers to trial the new point of sale crypto-capable terminals without incurring any activation costs.
Switching To Cashless Systems
Salamantex is full of praise for the country’s decision to start switching to the cashless systems of payments as far as possible. Salamantex Chief Operating Officer Markus Pejacsevich stated:
“Our goal is to make paying with digital currencies at the checkout as easy and natural as we have been used to with credit cards for decades. With A1, we have a partner for the Austria-wide roll-out who, just like us, is convinced of this payment system of the future and works towards making Payment with digital assets accessible to the broad masses.”
Become a Smart City
A1 started accepting cryptocurrencies as a form of Payment in Austria in 2019 in at least seven selected outlets. The initiative enabled A1 customers to pay for the crypto-enabled services using Chinese payment processors WeChatPay and AliPay. Austria has continued to develop its digital asset capabilities since its capital city announced the intention to become a Smart City using digital technologies to achieve social change in 2014.
Salamantex is registered with the Financial Market Authority (FMA) in connection with virtual currencies. The firm has established additional ties with other digital payment providers such as Igenico and Concardis. Government bonds and the Austrian energy sector have grabbed the most of the front page news recently. However, it appears like retail outlets are joining the frontline in adapting the emerging technology.
Removing Cash from the Equation
According to the Salamantex COO, the new affluent customer group is to be found within crypto holders. The company’s objective is to find and “…enable merchants to position themselves as pioneers in their industry.” Pejacsevich said his company’s goal is to make:
“Paying with digital currencies at the checkout as easy and natural as we have been used to with credit cards for decades… [And] …is convinced of this payment system of the future and works towards making Payment with digital assets accessible to the broad masses.”
Since the outbreak of Covid-19, diverse industries are opting for contactless payment systems. There is an increase in the number of traditional services that are removing cash from the equation. Cryptocurrencies are taking the lead with lawyers in four American cities choosing to accept crypto over cash.