An Australian chain store has become the latest to seek the implementation of crypto payment options.
On The Run (OTR) will collaborate with Crypto.com to introduce the Pay Merchant product, enabling consumers to conduct payments in their preferred cryptocurrency.
This marks an ambitious attempt to shift public perception for cryptocurrency as well as being a strong endorsement by one of the most prominent gas station and convenience store chains in South Australia and Victoria.
OTR has a total of 170 outlets which means that the cryptocurrency payment feature is likely to gain prominence quickly.
Meanwhile, the company’s parent entity Peregrine Corporation, has already announced that it’s happy to accept cryptocurrency payments at several brands, including Oporto, Smokemart and Subway.
There will be an implementation period that will run through July. Once the system is in place, it will mark the biggest such feature supported on the Australian market, enabling consumers to buy ordinary goods using crypto.
According to Peregrines executive chairman Yasser Shahin adding cryptocurrencies as a supported payment method is an opportunity to spur growth and acceptance of cryptocurrencies among the general public.
“The growth and mainstream acceptance of cryptocurrency adoption in Australia and the rest of the world has been phenomenal”, Shahin added.
Merchants globally have been slow to act. According to Crypto.com, only 4% of the world’s merchants are accepting crypto based on a survey conducted in February.
Spain’s biggest retailer also confirmed that it will be now moving into crypto space with El Corte Inglés revealing the news last week.
Overall, cryptocurrency adoption has been slowly going up. Amazon is still shying away from the opportunity to integrate cryptocurrency payments whereas Alibaba is closer to enabling consumers to use China’s digital currency, the e-yuan, as part of the shopping process.