Bitcoin Adoption: Austria’s Largest Telecom Giant To Accept Payments in Bitcoin & Altcoins

By Tabassum
Published August 24, 2019 Updated August 24, 2019
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Austria Telecom Giant Accepting Crypto Payments

Bitcoin Adoption: Austria’s Largest Telecom Giant To Accept Payments in Bitcoin & Altcoins

By Tabassum
Published August 24, 2019 Updated August 24, 2019

The largest Austrian telecommunications giant, A1 is planning to accept cryptocurrency as a means of payment. The firm recently states that they’re launching a pilot project to test virtual payments at limited stores.

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A1 is Austria’s major telecommunications which would soon support Bitcoin, Ether, XRP, Litecoin, Stellar, and Dash. Initially, the option is available at only selected stores which will expand shortly with the addition of other coins, if the pilot turns out to be successful.
Moreover, A1 selects Wien Mitte The Mall, Vienna Kärntnerstraße, Krems Bühl Center, Graz Herrengasse, Innsbruck Kaufhaus Tyrol, Salzburg Europark and Linz Landstraße as its stores to run a pilot project. As per the report, it will also host payments for WeChat Pay and Alipay by the end of this month.

Crypto Payments on the Rise

Jochen Schuetzenauer says that crypto payment is common across America and Asia and states about A1’s plan of supporting virtual payments;

“It is a trial. If it turns out as we think (that this is popular), we will extend our offer,”

The acceptance of cryptocurrency as a means of payment has been on the rise from some time now. He outlines the increasing use of cryptocurrency has made cash more obsolete. Echoing the similar concern, A1’s business marketing Markus Schreiber added;

“Cash is a discontinued model.  With our pilot operation in the A1 shops, we will test demand and acceptance of digital currency in Austria.”

Nevertheless, A1 telecom giant serves almost 5.1 million mobile and 2.1 million fixed lines across Austria. With the pilot project, the giant seeks to understand how digital currencies are in demand and employed within the country.

As per the reports, A1 is teaming up with banks to analyze the price-fluctuations of crypto payments. Accordingly Salamantex, Ingenico and Concardis are three banks that A1 telecom giant has highlighted to sign partnership for the project.

Image Source – vaaju.com

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Tabassum
562 Articles
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com

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