From KFC to Starbucks, from airlines to subways, although the price of Bitcoin has plummeted from its highest point at the end of 2017, and the entire cryptocurrency market has also experienced a long bear market, more and more companies, organizations, and merchants are still beginning to accept BTC , ETH and other mainstream cryptocurrency payments.
These companies, organizations and merchants accept cryptocurrency payments, partly because they believe that in the future digital era, cryptocurrency will replace most paper currencies and become one of the protagonists; partly because they hope to ride on the wave of cryptocurrency for marketing, not only “Delighting” consumers within the blockchain industry can also attract traditional consumers outside the industry who like to experience new things and win media attention.
Regardless of the purpose, accepting cryptocurrency payments seems to be becoming a minor trend.
01 Those merchants that accept cryptocurrency payments
According to statistics, as of now, 15,482 stores around the world accept cryptocurrencies such as Bitcoin as a means of payment, compared with 14,125 at the end of last year. Taking into account the lag and incompleteness of website statistics, the number of new merchants accepting cryptocurrency payments in 2019 must be much higher than 1,357.
(The red mark indicates a high concentration of merchants that support Bitcoin payments)
Although different merchants may have different starting points, whether they are truly aware of the cryptocurrency wave or want to use the gimmick of cryptocurrency for marketing, it is undeniable that the number of merchants accepting cryptocurrency payments has sprung up in recent years. The greater the number, the wider the distribution.
Below, we take a brief look at the well-known merchants that currently accept, will soon accept, or have already accepted cryptocurrency payments.
1. KFC
In January 2018, the Canadian KFC chain launched a creative "Bitcoin Fried Chicken Bucket" marketing campaign, where customers can use Bitcoin to purchase KFC Fried Chicken Buckets. KFC Canada wrote on its official Twitter:
Canadian chain KFC has now launched a Bitcoin fried chicken bucket. Sure, we don't understand what Bitcoin is or how it works, but that doesn't stop you from savoring your finger-licking fried chicken.
During the event, KFC Canada kept winning the hearts of cryptocurrency enthusiasts with several interesting tweets, such as:
“Fiat currency is backed by gold, but Bitcoin is backed by fried chicken!”
“Bitcoin has gone up since we launched [the Bitcoin Chicken Bucket campaign], you’re welcome, Bitcoin!”
“If Satoshi Nakamoto reveals his true identity, we’ll treat him to a bucket of fried chicken!”
There is no doubt that the “Bitcoin Chicken Bucket” event has attracted a large number of cryptocurrency enthusiasts and customers who like to try new things since its launch, and has achieved great success.
However, it should be pointed out that this is just a brand marketing campaign conducted by KFC Canada using the hot social topic of cryptocurrency. During the event, if customers choose cryptocurrency to purchase fried chicken buckets, they will not pay directly at the KFC checkout counter, but will need to pay through the online checkout system.
2.Microsoft()
Microsoft can be called the "number one fan" of blockchain and Bitcoin. In addition to the well-known Microsoft Azure Blockchain as a Service (BaaS) platform and decentralized identity verification technology based on blockchain technology - DID, Microsoft's online mall launched a Bitcoin payment option as early as 2014.
In January 2018, Microsoft briefly suspended the Bitcoin payment option in its online store, but quickly restored it.
Although Microsoft founder Bill Gates has always played the role of "Bitcoin black fan", he even said in an interview with CNBC that "Bitcoin does not create anything, so you don't expect its price to increase. This is purely a 'Bet'" '. "It's a stupid investment and I'd short it if I had the chance," but Microsoft's online store is "very honest."
3. Company
It is an online platform in the United States that sells air tickets, provides hotel reservations and car rentals.
As early as 2013, it began accepting payments from customers in Bitcoin and entrusted the trading platform as its cryptocurrency custodian. However, it stopped providing services related to Bitcoin payments in April last year and subsequently switched to a cryptocurrency payment service provider.
4. Metro()
Subway is a large fast food chain with different stores. Some branches in the United States, Russia and Slovakia have begun accepting cryptocurrencies such as Bitcoin and Litecoin as payment methods.
The following is a Vlog of a foreign man using Bitcoin to buy food in a store:
5.Starbucks
Recently, the Bitcoin physical delivery futures contract platform Bakkt has once again attracted public attention due to the rapid expansion of trading volume. What many people don’t know is that Starbucks also has a place among the many powerful investment companies behind it.
In October of this year, Bakkt announced that it would develop consumer applications based on cryptocurrency. The application will first be tested in partner Starbucks stores and is expected to be officially launched in the first half of next year. Through this consumer application, users can purchase goods or services using cryptocurrency.
However, this is not what some media claimed that "you can directly use Bitcoin to scan the code to buy coffee at the Starbucks counter", because a Starbucks spokesperson later clarified that "Starbucks does not accept cryptocurrency, but transfers Bitcoin through transactions." Cryptocurrencies like U.S. dollars are exchanged for U.S. dollars, which is the currency that can be used in Starbucks stores. "
Regardless, Starbucks, the world's largest coffee chain, is embracing new technology. Although it does not accept cryptocurrency payments directly, customers can still pay for their coffee using cryptocurrencies.
In addition to the well-known merchants mentioned above, Inc., (Internet Archive), AT&T, etc. have all begun accepting cryptocurrency payments or donations.
02 How to accept cryptocurrency payments
For merchants and offline physical stores, there are generally the following ways to accept customers using cryptocurrency to pay for the goods or services they purchase.
1. Cryptocurrency POS machine
Among the many payment methods that use cryptocurrency as a means of payment, using a cryptocurrency POS machine is the easiest and most convenient one. It is similar to a traditional POS machine when used. Customers simply present their cryptocurrency wallet payment code or cryptocurrency debit card and swipe to complete the payment.
Currently, more and more manufacturers are integrating cryptocurrency payment functions into their own POS machines.
According to reports, Cielo, Brazil’s largest payment processing provider, announced on August 30 this year that PoS machines in its sales network will support cryptocurrency payments such as BTC. Data shows that Cielo operates more than 1.4 million PoS machines, distributed in more than 5,500 cities and towns in Brazil.
In November this year, the French payments giant also partnered with Singaporean cryptocurrency startup Pundi POS machines produced by the company can be used. The company can accept multiple cryptocurrencies as payment methods. According to reports, POS machines can automatically provide real-time exchange rates between fiat currencies and cryptocurrencies in retail stores, which is very convenient.
2. Cryptocurrency ATMs
Installing cryptocurrency ATMs in shopping malls is another way for offline physical stores to accept cryptocurrency payments. Although using an ATM machine is more cumbersome and complicated to operate than a cryptocurrency POS machine, an ATM machine allows customers to freely exchange cryptocurrency and cash.
According to website statistics, as of today, the global installed base of cryptocurrency ATMs has reached 6,239, of which the United States has 4,108, accounting for 65.8%, and Canada ranks second, accounting for 10.7%.
3. Directly scan the QR code to transfer money
This is similar to Alipay and WeChat scan code payment. You can open the wallet software directly on your phone, scan the merchant's cryptocurrency payment address, and make the transfer.
In a previous tweet, “What’s it like for two girls to travel almost half the country with no cash and only paying for it with cryptocurrency?” I mentioned a hotel in Brazil called Casa Terra. You can book surfing lessons, transfers, tours and more as long as you pay in cryptocurrency and send it to the hotel owner’s wallet.
Additionally, established Bitcoin wallet service providers issued Bitcoin debit cards as early as 2017. You can complete your payment with your Bitcoin debit card anywhere Visa cards are accepted, or withdraw cash at a Bitcoin ATM.
03 Conclusion
From shopping to travel and vacations, you can find online or offline merchants that accept cryptocurrency payments. Moreover, as blockchain technology gradually enters the mainstream, more and more merchants will accept cryptocurrency payments in the future digital society.
标签： #Currencies #Crypto #Bits #Payments #Merchants
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