Switzerland’s largest online retail store accepts cryptocurrency payments

Digitec and Galaxus, two of Switzerland’s largest online retailers’ stores, have started accepting cryptocurrency payments at their stores. Customers can choose from 10 cryptocurrencies, including BTC, BCH, BNB, ETH, TRX, OMG, and XRP. One of them specializes in consumer electronics, while the other focuses on everyday needs.

Digitec Galaxus accepts crypto payments

Digitec Galaxus AG announced on Tuesday that customers can now purchase goods with cryptocurrency at two online stores, Digitec and Galaxus. The store supports ten cryptocurrencies - BTC, BCH, BSV, BNB, ETH, LTC, NEO, OMG, TRX and XRP.

Claudio Schaad, leader of the Team Specter technical team at Digitec Galaxus AG, discussed the new payment method in a blog post on the company's website. "We've been looking at cryptocurrencies now," he revealed. The post explains that "instead of creating their own wallet or cryptocurrency, digital channel, or anything like that, the team chose to partner with Coinify," adding:

To put it simply: when shopping, if your purchase price exceeds 200 francs, you have the option to pay with cryptocurrency. Digitec Galaxus AG received Swiss francs.

Digitec specializes in IT, consumer electronics and telecommunications products, while Galaxus is Switzerland's largest online department store with a wide range of products for daily needs. The two stores are formed by Digitec Galaxus AG.

According to Digitec Galaxus co-founder and chief information officer Oliver Herren, the company currently has about 2.7 million items for sale, ranging from shoehorns to wheat beer to gaming PCs. He is quoted as saying:

Cryptocurrencies are attractive and we want to support this development, which may become a relevant payment method in e-commerce.

Pay with Cryptocurrency

A blog post on the Galaxus website details that "the new payment option is part of a pilot project created with Swiss electronic payments specialist Datatrans AG," in partnership with Danish cryptocurrency payments provider Coinify.

Customers shopping on digitec or Galaxus can choose to pay with cryptocurrency at checkout. They will be redirected to a page on Coinify that displays a QR code for the amount due in BTC. Customers can choose from 10 supported cryptocurrencies and complete the checkout process. The price will be locked for 15 minutes.

When selecting a cryptocurrency other than BTC, customers are asked to provide an address so that funds can be returned in the event of an error. Furthermore, the company also announced that there may be processing delays when paying with other coins.

The blog post further states, "Typically, payment confirmation from Coinify occurs within minutes," adding:

Digitec Galaxus does not charge any fees for cryptocurrency payments. Coinify charges an exchange fee of 1.5% of the purchase amount. Additional but small transaction fees will be charged based on the currency and how quickly the transaction is confirmed.

(Source: Caiyun Blockchain)