Customers in Switzerland can now use crypto to pay for groceries at Spar stores.
- Spar partners with Binance Pay and DFX.swiss to accept over 100 cryptocurrencies.
- Crypto payments can reduce merchant commission fees by up to two-thirds.
- Nationwide rollout is in progress, but no full launch date is set.
Spar Adds Crypto Option to Grocery Payments
Swiss grocery chain Spar is now allowing customers to pay with cryptocurrency. The company has teamed up with Binance Pay and local fintech DFX.swiss to bring this service to stores across the country. Right now, about 100 Spar locations already offer crypto payments. More stores will join in the coming months, though there isn’t a confirmed date for all 300 locations.
Over 100 Coins and Tokens Accepted
Through the Binance Pay app, users can choose from over 100 digital assets, including popular stablecoins and cryptocurrencies like Bitcoin and Tether (USDT). After scanning a QR code at checkout, the amount gets automatically converted into Swiss francs for Spar. This means the store still gets paid in local currency, making it easier to handle the transaction.
Lower Fees for Merchants
Spar says crypto payments can help reduce payment processing fees. Traditional card payments often come with high commissions. With crypto, merchants might save up to two-thirds of those costs. André Scherrer, director at Spar Switzerland, calls this part of the “future of retail” as more people look for new payment options.
Crypto-Friendly Switzerland Leads the Way
Switzerland remains one of the most crypto-friendly countries in Europe. According to BTCmap, over 1,000 shops in the country already accept Bitcoin. Spar’s move is the first major nationwide crypto payment rollout by a grocery chain in Switzerland. Other cities like Lugano have also adopted crypto payments for public services.
Source: cointelegraph.com