OTR Goes Full Digital By Accepting Cryptocurrency As A Method Of Payment
Customers at OTR stores will be able to pay for their goods, such as gas, coffee, etc. by using digital currency like Ethereum or Bitcoin.
That will make OTR the largest retailer in Australia to accept crypto, as the new payment method moves on to enter the mainstream and officially become part of our daily lives.
OTR owns over 170 stores across the country, with the majority of them being located in South Australia, Western Australia and Victoria. This change is set to take place sometime in July and will be implemented in OTR’s other outlets that include stores such as Subway, Oporto and C Coffee.
OTR is owned by Peregrine company who are currently in works with Singapore’s crypto.com and DataMesh to ensure that platforms can be properly installed across all retail stores by the time the new change in payment methods is set to take place.
These platforms will allow customers to convert their AU dollars into crypto electronically via the use of crypto.com’s app which lets users view their digital wallet. Users of the electronic crypto platforms will also be charged with a fee of 0.5 percent.
Peregrine is one of Australia’s largest privately-owned companies with a yearly revenue that reaches the amount of $3 billion. It recently opened its first store in the city of Melbourne.
The chairman of the company, Yasser Shahin, pointed out that this move was made due to the increasing development of the digital currencies: “The growth and mainstream acceptance of cryptocurrency adoption in Australia and the rest of the world has been phenomenal, and has offered us a clear opportunity to tap into the momentum of this fast-growing space for the benefit of our customers.”
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