Swiss payments system aims to link bitcoin and retailers

Swiss payments system aims to link bitcoin and retailers

(MENAFN – Swissinfo) Swiss payments system aims to link bitcoin and retailers
Matthew Allen
Nov 8, 2019 – 12:52
Prominent European payment infrastructure provider Worldline has teamed up with financial services firm Bitcoin Suisse to allow cryptocurrency enthusiasts to spend their bitcoin in Swiss shops.
Worldline last year took over SIX Payment Services, the former arm of the Swiss stock exchange group that provides payment card terminals in 85,000 Swiss retail outlets. The French company now wants to hook this infrastructure up with cryptocurrencies.
It has signed a letter of intent with Swiss crypto company Bitcoin Suisse, which will act as a go-between, converting bitcoin into Swiss francs that will be used to pay for goods and services in Switzerland.
The partnership is still at an early stage with a pilot project planned for 2020. Once it finally goes live, at a date that has yet to be determined, it remains to be seen how many merchants will sign on. If successful, Worldline says it will roll the service out to other European countries.
Ambitious
The Worldline/Bitcoin Suisse deal is the most ambitious project to date to bring cryptocurrencies into the mainstream Swiss retail sector.
Earlier this year, Switzerland’s largest online retailer, Digitec Galaxus, teamed up with e-payment specialist Datatrans and Danish crypto firm Coinify to accept cryptocurrencies as a means of payment.
The luxury Dolder Grand hotel was among a handful of early adopters of the Swiss Inapay system that allows merchants to take cryptocurrency payments without having […]