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85,000 Swiss merchants can now accept payments in cryptocurrencies

Photo of: Joseph Stone
by Joseph Stone

Switzerland continues to prove that it is Europe’s leading crypto-nation. Thanks to Worldline and Bitcoin Switzerland, 85,000 Swiss merchants can now accept payments in cryptocurrencies, including Bitcoin (BTC) and Ether (ETH). All with little or no effort.

As the European country most open to blockchain and digital assets, Switzerland confirms its position as a continental crypto-nation.

As a reminder, it is possible to pay taxes in Bitcoin (BTC) or Ether (ETH) in a Swiss canton and BTC distributors are present all over the country.

However, there was still one small obstacle, which is not specific to Switzerland, and that is the payment in cryptocurrencies. That was without counting on Bitcoin Switzerland, the main innovator of the sector in the country and among other locally regulated exchange platforms.

By partnering with Worldline, Europe’s leading payment services provider, Bitcoin Switzerland will enable approximately 85,000 merchants to accept payments in digital assets.

French payment services provider Worldline, which has owned SIX Payment Services for three years, is now enabling its network of 85,000 Swiss business customers to accept purchases in bitcoin or ether (the cryptocurrency of the Ethereum blockchain). The service is offered via a partnership with Zug-based Bitcoin Suisse, which specializes in crypto-finance and crypto-currency trading. Announced at the end of 2019, the system introduced today on a large scale has been tested in a pilot phase.

Swiss businesses using Worldline’s services can easily activate the ability to accept bitcoin and ether, both for online and point-of-sale transactions. In the first case, they simply need to install the Worldline payment plugin for online stores. In the second case, merchants need to download the WL Crypto Payments mobile application. “Customers wishing to pay in cryptocurrency simply use their usual mobile crypto payment app,” the two partners state in their release. The amount corresponding to the price of the item in Swiss francs is automatically displayed in bitcoin or ether, depending on the real-time price. “With Crypto Payments, retailers accept payment in cryptocurrency without exposing themselves to volatility risks, as the transaction is securely converted into Swiss francs immediately after payment confirmation,” Worldline and Bitcoin Switzerland point out.

“We are on the verge of a historic milestone in the adoption of cryptocurrency payments in Switzerland and beyond. We look forward to working with Worldline to bring this user-friendly payment solution to the Swiss market,” said Arthur Vayloyan, CEO of Bitcoin Switzerland.