Australia’s leading online retail (OTR) company On The Run now accepts bitcoin and other cryptocurrencies for payment at 175 petrol stations and supermarkets in the Australian states of Victoria, South Australia and Western Australia.
Australian OTR customers can now buy everyday items such as petrol, coffee and sandwiches in the cryptocurrency of their choice using a wallet on the crypto platform, according to a press release. is to be taken. At the time of payment, the merchant selects the Crypto.com crypto service as the preferred payment method and uses it to generate a dynamic QR code on the device.
Customers must use the cryptocurrency platform’s app to take the survey. They then select their preferred cryptocurrency in the app and authorize the payment, which is instantly paid to the Fiat AUD retailer. Peregrine Corp., owner of OTR, wants to expand the opportunity to an additional 250 locations across the country, including Krispy Kreme stores in South Africa and the Northern Territory.
Australians are ready for cryptocurrency payments
in Australia stand up Lack of regulation and uncertainty about the tax implications of broader adoption of cryptocurrency transactions. The rise of the digital economy during the COVID-19 crisis has shown that interest in cryptocurrencies is also growing rapidly in Australia. Over 1 million Australians currently own cryptocurrency with an average value of over $20,000.
“Australia is ripe for a cryptocurrency revolution as consumers and businesses are increasingly willing to use cryptocurrencies as an everyday alternative to paying cash or credit. Our latest research shows that 55% of merchants and consumers want to trade cryptocurrency. This innovation in OTR stores brings these aspirations to life and ensures that Australia is at the forefront of developing cryptocurrency payments.” – Carl Mohan, Managing Director, Crypto.com
In late May and early June 2022, independent market research firm PureProfile surveyed more than 2,000 Australian consumers and more than 500 Australian retailers about their attitudes towards cryptocurrency transactions. related study explainedMore than half of consumers and businesses surveyed want to make crypto payments. A third of Australian businesses say they are ready now or within a year. According to the study, service providers will want to accept payments in cryptocurrency online and in stores, while consumers will tend to use it for online payments.