The “Amazon of Switzerland”, Digitec Galaxus has started accepting Cryptocurrencies as payment according to the local news outlet Watson.

Digitec Galaxus is the largest E-retailer in Switzerland with roughly 1300 employees across the country and over $992 Million in revenue last year. Now the Zurich based company has decided to accept Cryptocurrencies for payments.

Customers can now purchase over 2.7 Million products using Bitcoin (BTC) and altcoins including Litecoin (LTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Bitcoin SV (BSV), Binance Coin (BNB), TRON (TRX), OmiseGo (OMG) and NEO (NEO) Watson reports.

Digitec co-founder Oliver Herren said:

“Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce – we would like to support this development.”

The software team at Digitec Galaxus called Team Specter came up with the payment solution while working on a pilot project with Swiss e-payment company Datatrans AG. The payments are processed by Denmark based Fintech company Coinify which operates worldwide.

The minimum amount required to pay with Cryptos is 200 Francs (~$200). Users will be redirected to Coinify’s website after choosing the Cryptocurrency option where they get a conversion rate valid for 15 minutes. Coinify will then provide the QR code/text details of the wallet and will confirm the transaction in a few minutes. The company will charge 1.5% for every transaction (compared to Paypal’s 2%) and no extra cost will be added to the Crypto transaction.

When asked why his customers should pay in Bitcoin, Herren said:

“Because you have some and you want to use them? Or because you can not turn them into real money because your bank does not accept the money? Just because you can do it? Or because you like to try new things”

Watson reports that this move by Digitec Galaxus is a PR move set to please its tech-savvy customers, Other retailers are likely to follow its lead and integrate Crypto payments onto their platforms.

Image Source (Modified): Unsplash

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