A luxury hotel, a car dealer and a wine merchant, all Swiss, will begin accepting payments in bitcoin as of May. The companies are going to use the Inapay app from Inacta Swiss blockchain company.
The hotel is the Dolder Grand, in Zurich. The car dealer is Kessel Auto. And the wine merchant, the House of Wines.
Customers will make payments through their wallets. Then the transaction will be sent to the Swiss crypto exchange Bity. The company will then convert the payment to traditional currencies before sending the full transaction to the recipient company.
“It is my hope that someday a number of small businesses, such as beauty parlors, will use Inapay to accept Cryptomanate payments from their clients,” said Roger Darin, Inacta’s chief blockchain consultant, to Swissinfo.ch.
“It is aimed at customers who have created legitimate crypto-coins and do not want to convert them into traditional currencies such as the Swiss francs. This also allows vendors, who may be wary of dealing directly with encrypted currencies, to accept payments from these customers. “
Expansion to other crypto
Currently, the app only accepts bitcoin. However, there are plans to expand to incorporate other cryptocurrencies. The new service was presented during the CV Summit, held this Wednesday (March 27) in Zug, Switzerland.
The application has the potential to bridge the gap between the world of cryptocurrencies and fiat money. While many see crypto as a store of value, such as gold and precious metals, others consider that its great potential is as a means of payment.