Covering more than 1,400 stores, Bitcoin payments into the Australian retail network

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.

Shopping-1232944_1280

Image source: pixabay

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.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Babbitt Column | Money Money Risk Avoidance Guide for Digital Currency Trading Subjects

The anonymity and complexity of digital currency trading make trading participants and trading platforms face many ri...

Blockchain

Starting to decentralize the game platform: Is it a good day to break the monopoly?

On May 31 , Xiao Xiao invited the founding partner of Xingyao Capital, Liu Jiang, founder of Xingheng Education, Chen...

Opinion

What do legal experts think of the SBF trial?

If SBF is convicted of one or more charges he is facing, the length of time he will spend in prison will largely depe...

Market

The short-lived boom is hard to sustain, the second major crash after FTX is on its way.

Macro recession, will it make crypto become a safe haven asset, or will it collapse the entire crypto world? Original...

Blockchain

Full text of South Korea's first independent "Encryption Act": Insider trading carries a maximum sentence of life imprisonment.

On June 30, 2023, the South Korean National Assembly's Political Affairs Committee passed the country's first legisla...

Market

Which exchanges and currencies are in the process of brushing? New report decrypts the real trading situation of the encryption market

BTI's algorithm connects to the exchange through its public API and websocket. The transaction is analyzed and t...