Customers Can Now Pay with Crypto at SPAR Shops in Switzerland
Customers are now able to pay with crypto at more than one hundred SPAR shops located around Switzerland as a result of a cooperation.
Through the integration, clients are able to make quick payments using over one hundred supported cryptocurrencies, including well-known stablecoins. Due to a new agreement between SPAR, Binance Pay, and DFX.swiss, consumers in Switzerland are now able to pay for their regular groceries using stablecoins and other cryptocurrencies. Customers are now able to pay with crypto at more than one hundred SPAR shops located around Switzerland as a result of a cooperation between Binance Pay, the transparent and safe cryptocurrency payment solution offered by Binance, and DFX.swiss, a Swiss financial technology company. The implementation of a cryptocurrency payment system in the grocery retail sector in Switzerland is a first of its kind. The deployment is now spreading throughout the SPAR network, and it is anticipated that over 300 locations will be able to take cryptocurrency payments over the next several months.
Through the integration, clients are able to make quick payments using over one hundred supported cryptocurrencies, including well-known stablecoins backed by the euro and the dollar, and there are no gas fees associated with these transactions through the Binance Pay app. The DFX.swiss integration allows for the settlement of payments in Swiss Francs (CHF) or any other currency of your choosing.
Statements from SPAR Switzerland Management
André Scherrer, Managing Director SPAR Switzerland: As the need for stablecoins and digital payment solutions continues to rise on a worldwide scale, this initiative has been launched. Switzerland, which has been recognized for a long time as a global hub for cryptocurrencies, is now taking a significant step forward in expanding the adoption of cryptocurrencies in everyday life beyond the realm of institutional finance and into the consumer retail space. This allows it to be easier than ever before for Swiss residents and international visitors alike to use digital assets in their day-to-day lives.
Jonas Juenger, Regional Director for Binance: When customers are at the checkout counter, they may finish the transaction by simply scanning the “OpenCryptoQR” that is provided by DFX Swiss using the Binance Pay app. The payment is handled immediately in the cryptocurrency of your choice, which may include stablecoins backed by either the euro or the dollar currency. After that, DFX.swiss makes it possible to convert the currency to CHF or any other fiat currency, so guaranteeing that SPAR is paid in its whole in fiat currency.
Comments from DFX.swiss Founder
Cyrill Thommen, founder of DFX.swiss: As a result of this integration, grocery purchasing is now one of the most accessible real-world use cases for cryptocurrency payments in Switzerland at this point. The varied consumer base of SPAR can now take benefit of a seamless cryptocurrency payment experience, all while merchants continue to operate with the same financial infrastructure they are used with.
Cyrill Thommen, founder of DFX.swiss: 1989 was the year that SPAR Group Switzerland, which has its headquarters in Gossau, Switzerland, purchased the SPAR license from SPAR International for all of Switzerland. Since the month of April in 2016, the South African SPAR Group Ltd. has become the parent company of the SPAR Group Switzerland in Switzerland. SPAR Group Switzerland is comprised of 11 TopCC cash and carry wholesale markets in addition to 250 SPAR neighborhood stores, SPAR Express convenience stores, and SPAR micro stores. One-third of the SPAR neighborhood shops are owned and operated by the corporation itself, while the other two-thirds are the responsibility of independent merchants operating under a franchise system. Additionally, SPAR provides its services to independent maxi merchants as well as other consumers. Over 2,200 individuals are employed by the SPAR Group on a full-time equivalent basis, the number of which includes 200 apprentices.
About SPAR
SPAR is a chain of grocery stores that focuses on providing customers with informed and courteous employees. The stores provide a diverse array of items, including a significant selection of fresh, locally sourced, and organic goods that are offered at rates that are appealing. The Netherlands is home to the headquarters of SPAR International, which is headquartered there. SPAR is the biggest voluntary retail chain, with around 13,900 supermarkets and total sales of 47 billion euros. It operates in fifty countries under a licensing basis, making it the international leader in the retail industry. 1932 was the year that SPAR was established in the Netherlands. As the name is derived from the Dutch word for “fir tree,” the SPAR logo also incorporates this meaning.
