Australian consumers can now use their bitcoin for everyday purchases at more than 440 retail outlets owned by Peregrine Corp., including over 175 OTR fuel and convenience stores.
The feature is being implemented through a partnership with cryptocurrency exchange Crypto.com, according to a press release.
To use the service, consumers looking to use bitcoin or another cryptocurrency select Crypto.com as their payment method, which then generates a QR code. Then, the consumer just picks which currency they would like to use, scans the code, and the payment will instantly be settled in Australian dollars for the merchant.
DataMesh Group, a payments infrastructure provider, serves as the backbone connecting the retail locations to the cryptocurrency exchange.
“We know merchants are looking at many alternative payment instruments including crypto as an opportunity to diversify their payment streams and attract new customers, which is why we are determined to deliver integrated processing capabilities that will make crypto payments fast and accessible for all involved,” said Mark Nagy, CEO of DataMesh.
Starting today, all OTR locations across Victoria, South Australia, and Western Australia can accept bitcoin as payment, per the release. Additionally, consumers will be able to leverage this service at 250 additional retail locations owned by Peregrine Corp., OTR’s parent company.
“The OTR story is about giving customers choice and making life easy,” said executive chairman of Peregrine Corporation, Yasser Shahin. “The decision to offer cryptocurrency payments is centered around this story — by offering our customers convenience in how they pay, whether it be cash, card or crypto.”
Furthermore, customers shopping at OTR locations will receive an additional 2% cashback on all purchases using bitcoin until September 16.
The partnership comes after a recent survey from Crypto.com showed that over 55% of merchants and consumers want to use bitcoin and other cryptocurrencies for daily purchases.