ALEXANDRIA, Va.—Australian convenience retailer On the Run announced it will accept crypto payments at 170 locations across South Australia and Victoria. The company is expected to start accepting the payments in July after the system is finalized, and it will be the largest business in Australia to accept in-store crypto payments.
On the Run’s parent company Peregrine Corporation has partnered with Singapore-based exchange Crypto.com to implement its Pay Merchant service as its payment settlement layer. The point-of-sale terminals will be provided by Datamesh, a Sydney-based payment systems provider, and they will allow customers to pay through the Crypto.com app with their cryptocurrency holdings.
The c-stores will be able to accept over 30 cryptocurrencies.
The growth and mainstream acceptance of cryptocurrency adoption in Australia and the rest of the world has been phenomenal and has offered us a clear opportunity to tap into the momentum of this fast-growing space for the benefit of our customers,” said Yasser Shahin, Peregrines’ executive chairman.
A survey by Crypto.com released in February revealed that 4% of globally surveyed merchants accept cryptocurrencies as payment, although nearly 60% of merchants were interested in accepting payments within the next year. In comparison, around 40% of customers globally are already paying using crypto, and the other 60% said they’re interested in paying with crypto within the next 12 months.
Last year, Alimentation Couche-Tard Inc., the Canada-based owner of Circle K, struck a deal with Bitcoin Depot to sharply increase the number of bitcoin ATMs in its U.S. and Canadian c-stores to thousands of locations from more than 700 current installments in 30 states.
Sheetz began accepting digital currency payments via Flexa inside its c-stores using bitcoin, ether, litecoin, dogecoin and other digital currencies at select locations last summer, with fuel pump payments to follow.