Swiss retailer Digitec Galaxus launches cryptocurrency payments

The Block • March 19, 2019, 11:42AM EDT
The Block

One of the largest Swiss online retailers, Digitec Galaxus, has introduced cryptocurrencies as one of the available methods of payment, the company announced in a press release. Customers can pay in Bitcoin Cash ABC, Bitcoin Cash SV, Ethereum, Ripple, Binance Coin, Litecoin, TRON, NEO or OmiseGO for purchases totalling more than CHF 200 (approximately $200). 

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“Cryptocurrencies are fascinating and likely to become a relevant means of payment in e-commerce—we want to support this development,” said Oliver Herren, CIO and co-founder of Digitec Galaxus.

The company has developed the new payment method with Datatrans AG, who co-operates with crypto payment provider Coinify. After selecting the payment method, the customer who chooses to pay in tokens will be redirected to Coinify page. Although Digitec Galaxus itself won’t charge extra for crypto payments, Coinify charges 1.5 per cent via the conversion rate and may charge additional transaction fees.

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