Bitcoin is accumulating momentum as a form of payment, and the process is slow but the trend is positive. The list of retailers accepting cryptocurrency payments continues to expand. Recently, the Australian supermarket network IGA began accepting bitcoin payments.
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Now, using BTC to pay for groceries has become a reality.
IGA is an independent retailer network consisting of more than 1,400 stores across Australia. These stores are now accepting payments for Bitcoin and other cryptocurrencies.
According to Nugget's news report, TravelbyBit co-founder Caleb Yeoh has partnered with IGA Australia to equip each supermarket checkout with TravelbyBit's PoS device, which supports payment using BTC, ETH, LTC, etc. Yeoh told Nugget,
“Whether I am buying eggs, milk, fruit or vegetables, I now have a way to pay for groceries in cryptocurrencies. The same is true for other cryptocurrencies who shop at Bowen Hills IGA.”
TravelbyBit serves the travel industry with the mission of using Bitcoin and other cryptocurrencies to facilitate travel bookings.
TravelbyBit also created a POS terminal for merchants wishing to accept cryptocurrency.
Supermarkets around the world are increasingly accepting bitcoins
Retailers around the world are accepting bitcoin. For example, in December 2018, the news portal do Bitcoin reported that Oasis Supermercados, a large Brazilian supermarket chain, has begun accepting payments for Bitcoin and other cryptocurrencies and using Coinwise as a payment platform.
Later, in June 2019, the Slovenian Tuš supermarket also announced that they were accepting cryptocurrencies through EliPay POS payments.
Some Argentine retailers also accept encrypted payments. Most notably, in September 2018, the National newspaper reported that a butcher shop in Córdoba was accepting bitcoin payments.
The fact that global retailers are increasingly accepting bitcoin contradicts the perceptions of bankers and regulators. Specifically, on July 11, 2019, Federal Reserve Chairman Jerome Powell told Senators in a Senate testimony on monetary policy that Bitcoin is taking over the role of gold in the global economy, such as value storage. But Powell ignored the growing popularity of Bitcoin as a form of payment.