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On The Run chain stores will accept new payment methods in cryptocurrency for more than 170 stores.

Gas stations and convenience store chains On The Run (OTR) will soon accept cryptocurrency payments across Australia.

On The Run is a South Australian family business operating for over 30 years. It is the state’s largest local employer and leading convenience retailer with more than 145 petrol stations and convenience stores across urban and rural South Australia, employing more than 3,100 South Australians.

On The Run’s parent company, Peregrine Corporation – one of the largest privately-held companies in South Australia – will also accept cryptocurrency payments at Subway, Oporto, and Smokemart stores.

From July, about 170 On The Run (OTR) convenience stores, including service stations, C Coffee dine-in and drive-through cafes, Subway, Oporto, and Wokinabox restaurants will be set up to accept receive payments in electronic money.

This will apply across the company’s entire group of points of sale in the city of Adelaide and regional Australia.

On The Run is working with Singapore-based exchange Crypto.com to launch a Pay Merchant service as a payment settlement tool. Datamesh, a payment systems provider based in Sydney, will deploy point-of-sale terminals that will allow shoppers to pay through the Crypto.com app with their cryptocurrency.

APAC General Manager Karl Mohan said this landmark partnership marks the first step in achieving its goal of allowing its customers to “pay in crypto at market rates over time real and avoid the cost and hassle of converting fiat.”

“We are delighted to bring this vision to life with one of the most trusted companies in Australia.”

Yasser Shahin, executive chairman of Peregrines, said the move is an opportunity for the company to rise with the growth of cryptocurrencies:

“The growth and mainstream adoption of cryptocurrency usage in Australia and the rest of the world has been phenomenal and has presented us with a clear opportunity to tap into the burgeoning space quickly for the benefit of customers. ”

The move follows internal research, conducted with payments company Worldpay from FIS, which found that 75% of Crypto.com customers are interested in purchasing goods or services with crypto by 2022. with retail being one of the top two segments of the industry.

Meanwhile, around 40% of customers surveyed globally are already using crypto as a means of payment, and the remaining 60% said they are interested in paying with crypto within the next 12 months.

Just last month, the world’s largest cinema chain also announced that it will accept payments in cryptocurrency.

Similar research commissioned by Australian crypto exchange Swyftx earlier this year found that a majority of Australian business leaders would like to see stronger regulation before exploring opportunities to integrate coins number electronics into their business.

Earlier this year, ANZ launched Australia’s first bank-backed ‘stablecoin’, an innovation advocate believes could change the way local businesses and investors move money online.

Using cryptocurrencies for payment is gradually being adopted by many countries and companies around the world, which could open a new chapter for the future payment system.