After the deal is finalized, it will become the largest business to accept crypto payments in Australia.
On The Run (OTR), a South Australian convenience store chain, has announced its intention to accept payment in Bitcoin and other cryptocurrencies. This follows the recent high adoption rate of digital assets and their demand from existing and potential customers. According to reports, On The Run will execute this implementation in partnership with the Singaporean payment and crypto platform crypto.com.
This will ensure that customers can make crypto payments in about 170 service stations across South Australia in both rural and metropolitan areas. It is unclear whether crypto payments will be available in several locations in Victoria.
People can equally purchase drinks or foods from cafes, subways, etc. from businesses operating within the OTR service stations and make payments in over 30 cryptos.
“Today, we make further inroads in accelerating Australia’s adoption of cryptocurrency. Customers will now be able to pay for goods and services via Crypto.com Merchant Pay at all OTR stores,” said Karl Mohan, Crypto.com Asia Pacific General Manager. “pay with cryptocurrencies at real-time market prices and avoid the cost and hassle of fiat conversions. We’re thrilled to be bringing this vision to life with one of the most trusted companies in Australia,” he added.
After it is finalized, it will become the largest business to accept crypto payments in Australia. Currently, it is the second company in Australia to seal a partnership deal with crypto.com besides Adelaide Football Club.
Yasser Shahin, Peregrine’s executive chairman in a statement explained that cryptos have seen significant growth in Australia in the last couple of years. According to him, this has presented some important opportunities that could be utilized for the benefit of its customers.
In addition to the OTR partnership, DataMesh Group, a technology, and payment company has also revealed its plans to collaborate with crypto.com as an accepted payment type.
Many Firms to Join On The Run (OTR) in Bitcoin Adoption
It is worth noting that many merchants have declared their intention to add crypto as a payment option. According to a recent survey conducted by Crypto.com, about 60% of global customers claimed they are interested in paying with crypto in the next 12 months. Interestingly, 40% of customers said they are already making payments in cryptos. Also, 60% of global merchants stated their intention of accepting cryptos as payment in the next 12 years with only 4% of them accepting cryptos as payments.
From the survey, it was disclosed that retail and grocery merchants, as well as luxury goods providers, were most likely to accept cryptos in the next few months. It is important to note that as crypto keeps growing across Australia and other parts of the world, most countries are still monitoring the market to come up with regulations to control its usage.
Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
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