Switzerland Promotes Cryptocurrency Payments, 65,000 Merchants Will Accept Bitcoin

Cryptocurrency broker Bitcoin Suisse has partnered with European payment and transaction service provider Worldline to increase cryptocurrency payment acceptance in Switzerland, Cointelegraph reported Nov. 13.

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The two companies have signed a letter of intent to collaborate to provide online and offline cryptocurrency payment services to merchants and consumers in Switzerland.

65,000 Swiss Merchants to Accept Cryptocurrency Payments

The new system will serve the 65,000 Swiss merchants that currently use Wordline’s national payment infrastructure (SIX Payment Services).

As cryptocurrency payment capabilities continue to grow, traditional networks are also beginning to help promote the large-scale use of this new type of asset in physical stores and e-commerce.

Marc Schluep, CEO of Worldline Switzerland, said:

By partnering with Bitcoin Suisse, merchants can benefit from new payment methods without taking on any switching risk.

The two companies promise that the service will be easy to use for merchants and consumers, and the payments made by consumers to merchants will be converted into Swiss francs or euros for payment, and the entire transaction data will be fully integrated into the merchant's report.

In the future, Worldline also intends to launch cryptocurrency payment terms across Europe.

Cryptocurrency Payments

Switzerland-based cryptocurrency bank SEBA reportedly received a banking and securities dealer license from the Swiss Financial Market Supervisory Authority and opened its doors to professional investors and corporate clients on November 12.

Last month, Cointelegraph published an article outlining the commercial locations around the world that currently accept Bitcoin as a payment method.