Nets Group enables crypto acceptance at shop tills in Austria

Wednesday 31 March 2021 12:44 CET | News

Nets Group, a large European payment services provider, has teamed up with Salamantex to bring acceptance of digital currencies such as Bitcoin, Ether, and Ripple to in-store points-of-sale in Austria.

Salamantex is an Austria-based specialist for the development of software solutions for cryptocurrency payments. Nets – through its subsidiary Concardis – is working with Salamantex to enable all merchants, service providers and restaurateurs in Austria to accept cryptocurrency transactions from consumers on common payment terminals, in addition to classic payment methods such as credit or debit cards.

Many Austrian merchants are already offering their customers crypto payments at the checkout, by activating crypto-capable interfaces on their Concardis terminal, according to the official press release. To pay with crypto, customers need to select on the terminal the corresponding cryptocurrency. Then an exchange rate request is made for the purchase amount, and the customer makes a QR code-based payment with their crypto wallet.

The merchant receives the value of the goods at the time of the transaction and has no risk regarding possible exchange rate fluctuations. The merchant can choose whether they want to receive the purchase price in Euros or the corresponding amount in the cryptocurrency. The merchant incurs standard transaction fees.

In Austria, cryptocurrency acceptance is already well regulated. Nets is considering further expansion of crypto acceptance in other European countries, dependent on respective national regulations, the official press release added.

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Keywords: cryptocurrency, partnership, Nets, Bitcoin, Ethereum, merchants, payment processing
Categories: DeFi & Crypto & Web3
Countries: Austria
This article is part of category

DeFi & Crypto & Web3

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