Photo Credit: Unsplash/ Executium
Cryptocurrency payments are now being accepted by over 85,000 merchants in Switzerland from their customers through a collaboration between Worldline, a French payment and transactional services company, and Bitcoin Suisse, a crypto-financial services company in Switzerland. In a press release dated August 19, Bitcoin Suisse announced the integrated service named WL Crypto Payments. This omni-channel payment solution will allow all merchants using the Worldline payment services to accept payments in Bitcoin and Ether. The merchants will be able to accept payments in Bitcoin and Ether on point-of-sale (POS) and e-commerce services.
To use this payment service, merchants only need to download the WL Crypto Payments mobile app. They can also install the Worldline payment plugin for their online store.
Clients willing to pay through digital coins may use the mobile cryptocurrency wallet application for this purpose. Prices displayed in Swiss Francs (CHF) will be shown in real-time Bitcoin (BTC) or Ether (ETH) value, according to the options that a client chooses. The price, to be paid in cryptocurrency, can get confirmed to the merchant instantly.
The transaction is claimed to be safe from volatility risks, as it will be securely converted into CHF after payment is confirmed.
This payment solution was successfully tested in a pilot programme before being rolled out to all Worldline merchants in Switzerland. Worldline and Bitcoin Suisse first collaborated over crypto payments in November 2019.
According to a 2019 press release, the companies intended to reinforce the "leading position of Switzerland as a strong center in the crypto-financial services industry." Switzerland houses over 800 companies that offer services or develop solutions for crypto and blockchain companies and is a bustling hub of cryptocurrency growth.
Worldline Switzerland MD Marc Schluep said that this project stood up to their goal of bringing “tangible value to merchants across the globe and to facilitate smooth and modern payments in all the markets" the firm operates in.
Bitcoin Suisse CEO Dr. Arthur Vayloyan called it a “historic milestone for crypto adoption in Switzerland and beyond,” and added that this step proved yet again that Switzerland was the leader in collaborative innovation and a pioneer in the crypto and blockchain industry.