If you are not aware of this progress then we are going to take a moment to remind you AGAIN, that Digitec Galaxus, which sounds like the name of a transformer, the largest Swiss retailer has started accepting cryptocurrencies!
The news was announced of Tuesday that customers can now pay using cryptocurrencies at its two online stores; Digitec and Galaxus. The store accepts up to ten cryptocurrencies which are; Bitcoin Cash, Ethereum, Litecoin, Ripple, Bitcoin Cash, Tron, Binance Coin, Bitcoin SV, OmiseGo and NEO.
Digitec focuses on consumer electronics, IT, telecommunication goods while Galaxus caters to your everyday needs, claiming to be the largest online departmental store in Switzerland.
Claudio Schaad, leader of Team Spectre, one of the teams that make up the engineering department at Digitec Galaxus AG, described their new action on their blog post on his company’s website explaining that they have been planning for this for some time now.
“We’ve been looking into cryptocurrencies for a while now.”
The post further explains how “instead of creating their own wallet or even cryptocurrency, digicon or the such, Spectre chose to work with a company called Coinify”
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.
The company has a wide range, approximately 2.7 million items for sale. Oliver Herren, co-founder and CIO of Digitec Galaxus shows great interest in cryptocurrencies and was reported saying:
Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce — we want to support this development.
The project was a collaboration of Swiss e-payment specialist Datatrans AG which works with Danish crypto payment provider Coinify.
How will this go down?
The customer can choose to pay with cryptocurrencies at checkout. At that time you will be redirected to a page on Coinify which will contain the details of your payment in BTC with QR code. Customers can choose among the 10 supported cryptocurrencies. The process takes 15 minutes to confirm.
According to the blog post, Digitec Galaxus won’t be charging any fees for the cryptocurrency, however, Coinify will charge a conversion fee of 1.5% of the purchase amount. The other will be charged on the coin you opt for and how much time it takes for your transaction to be confirmed.
Doesn’t this sound great? If big brands are opting for cryptocurrencies then we are surely heading towards mainstream adoption!
What do you think of this initiative made by Digitec Galaxus? Let us know by writing more about it in the comment section below!