The Kopitiam Restaurant chain in Singapore has taken the initiative to let its customers have their way with the payment options introducing Bitcoin payments at the chain. The company is taking digital payment means to the next level, the Business Times reported.
The crypto market has never been stable, and although this has been a good way to test potential players in the market- the business sector has kept aloof of it due to this very reason.
The food chain, Kopitiam has finalized plans to accept payments in major cryptocurrencies including Bitcoin, Ethereum, or Creatanium. All of this will be managed by KOPitech, Kopitiam’s very own system.
Why this sudden leap of faith, then?
Alden Tan, the chief executive officer (CEO) of the company, is well aware that the market can get bearish or bullish for their tokens of change any second. Their plan is to ride the rise and descend with the fall.
That means that even though the currency to fiat conversions are scheduled on a seven day period agenda, Kopitiam will be taking the hits- not the shareholders. Alden tan said:
“Allowing cryptocurrencies will help us to learn more about this segment of the payment system. This group of customers may grow in the future, so this is what we want to attract. We are always mindful of how we could add more customers to the food court.”
However, the food court giant is still ready to risk it all because; to them, customer satisfaction is more important. This seems like a wild card, but it will prove fruitful.
This takes the burden off the company employees by taking out the cashier as customers pay for their food using QR codes and their phones, near the menu display units.
KOPitech will continue to flourish this way. The idea is to make Kopitiam independent of third-party intervention- says Alden Tan.