Paying for everyday items with Bitcoin just edged closer to reality as international grocery giant Spar initiates a pilot program accepting BTC in a Swiss store.
This development signals a potentially significant step towards broader cryptocurrency acceptance within its vast global retail network. The specific Spar location is in Zug, Switzerland, often referred to as ‘Crypto Valley’ due to its concentration of blockchain enterprises.
The payment capability is facilitated by DFX Swiss, a provider of crypto-to-cash services, using their new OpenCryptoPay tool. According to a social media update from DFX Swiss, this makes the Zug store one of Switzerland’s first supermarkets offering direct Bitcoin checkouts.
Shoppers can complete transactions using the Lightning Network, a secondary layer designed for faster and cheaper Bitcoin transactions. The process involves a simple QR code scan at the point of sale, as demonstrated in videos shared by proponents like Rahim Taghizadegan of the Bitcoin Association Switzerland.
Should this Swiss pilot prove successful, Spar might extend Bitcoin payments across its Swiss operations, or even globally. Such an expansion would represent a major leap for mainstream crypto adoption, considering Spar operates over 13,900 stores across 48 countries, serving 14.7 million customers daily with a workforce of 450,000.
Spar’s experiment isn’t happening in isolation. It follows similar moves by other retailers globally. Notably, a Spar location in Arnhem, Netherlands, started accepting BTC back in 2014.
More recently, South African supermarket chain Pick n Pay successfully rolled out Bitcoin payments via the Lightning Network across its 1,600+ stores in 2023, following its own pilot. Reports indicate significant customer uptake, with monthly spending in BTC exceeding $50,000.
Even major U.S. retailers like Whole Foods and Starbucks have explored cryptocurrency payments, typically using third-party applications that instantly convert digital assets to fiat currency during the transaction.