Austria’s most prominent mobile network operator is now planning to accept cryptocurrency for payment, reports a tech news source, Futurezone.
While some may argue object to the perception that cryptocurrencies are taking the world by storm, there is no arguing against the fact that when it comes to catching the eye of giant multinationals, revolutionary technologies like cryptocurrencies are not standing on the sidelines.
Austria’s first GSM mobile network and a major broadband and multimedia services provider, A1, is mapping out a plan to test cryptocurrency payments at chosen store locations within Austria.
Will A1’s new initiative propel cryptocurrency for payment?
The network, which serves more than five million mobile users and over two million in fixed lines, is setting up modes of payment which accept prevalent cryptocurrencies like Ethereum, Litecoin, Dash, Ripple, and Stellar. Apparently, the innovative payment options are aimed at attracting tourists more than the locals.
The initial rounds of testing will be carried out through Alipay and WeChat Pay by the end of this month. Although the initial selected locations are limited to seven for now, all going well, more cities may stand to benefit in the near future.
According to Futurezone, the telecom giant is collaborating with banking platforms like Ingenico, Concardis, and Salamantex, who will help negate the price volatility through the banking solutions architecture.
Markus Schreiber, heading A1’s business marketing, confirms the news stating that the company is running the pilot program to examine what cryptocurrencies for payment bring to the table. Although cash becomes outmoded, it remains to be seen if the digital currencies can substitute the demand and supply.
Will the giant corporation’s new move inspire a new wave of cryptocurrency payments?