Digitec Galaxus – a leading Swiss online retailer has announced that it will now accept cryptocurrencies in accordance with a press release published on March 19.
According to the announcement, the online retailer is now accepting bitcoin (BTC) Bitcoin SV (BSV), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Tron (TRX), NEO(NEO), Litecoin (LTC), and OmiseGO(OMG) on purchases over CHF 200 (about $200). the press release also claims that the online retailer host close to 2.7 million products ranging from wheat beers to shoehorns.
This new payment method was reported to have been jointly developed as part of a pilot project with swiss payment processor Datatrans in conjunction with Danish crypto payments startup Coinify.
Going further the managing director of Datatrans, Hanspeter Maurer said:
“We are keen to find out how Digitec and Galaxus customers take up this offer”
As part of the move towards crypto, if the customers of the online retailer choose the new method of payment – cryptocurrency, the checkout process redirects them to Coinify page where they would be asked to choose means of payment from a list of options. After which customers then receive a conversion rate that applies for 15 minutes as well as payment details QR Code format and text. the customer then activates the transaction with a crypto wallet.
There are no fee charges by Digitec Galaxus for any payment made with cryptocurrencies but a 1.5% fee is charged by Coinify of the purchase through the conversion rate.
Lastly, a blog post was also released by the company explaining its internal engineering team behind the crypto integration.
Picture Credit: Bitcoinist
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.