Bitcoin Suisse And Worldline Launch Payment Option In Switzerland

WORLDLINE-BITCOIN SUISSE PARTNERSHIP

Highlights:

  • Worldline is a French payment and transactional services company founded in 1970.
  • Bitcoin Suisse is one of the most reliable crypto-financial service providers in the world.
  • The two companies have declared their partnership to facilitate Bitcoin and Ethereum payment acceptance in Switzerland.

What did they announce?

Bitcoin Suisse and Worldline recently announced their partnership publicly. This partnership entails the launch of a service that will allow Bitcoin and Ethereum payments in Switzerland. Merchants, citizens and even the government will be able to conduct transactions using Bitcoin as a means of payment for goods and services.

This service was first launched in 2019 following a pilot protocol to test the authenticity of the network. However, the companies will expand this service throughout Switzerland. This expansion will change the history of Switzerland in terms of fiscal policies. Worldline already has about 85000 merchants in the country as its clients who will be able to access this service. It would not be surprising if more people build relationships with Worldline as their clients following this launch of their service.

source: Twitter

How will the facility work?

With the expansion of the service provided since 2019, Business owners and Merchants will benefit the most. Business owners will be able to accept Bitcoin and Ethereum as a payment option. They may choose to accept either as per their discretion. These payments will be received by them through their   mobile-crypto-wallet application. Consumers can choose to make payments in the standard Swiss currency or through Bitcoin and Ethereum. If they choose the latter, the purchase price of the consumer will reflect in terms of the cryptocurrency they’ve chosen to pay in through an automated machine according to the prevailing market price. The customer will then transfer the amount of Bitcoin or Ethereum to the wallet of the merchant.

The merchants will receive an instant confirmation once the payment is received. According to the terms of their partnership, the service will protect the merchants from the volatility in prices of Bitcoin and Ethereum. The facility will straight away convert the digital assets received into Swiss Francs at the market price.

Bitcoin Ethereum payments
Source: PYMNTS

Are these companies reliable?

These companies are indeed reliable. Bitcoin Suisse is one of the most trusted cryptocurrency exchanges in Switzerland. One can buy, sell and hold digital assets such as Bitcoin and Ethereum with this regulated Swiss company. Moreover, a bank named Cantonal Bank has guaranteed the solvency of Bitcoin Suisse. They even conduct regular audits of their cold storage so as to account for every asset placed under their custody. These are some of the reasons why hundreds of clients in Switzerland have placed over CHF 5 billion worth of digital assets under the company’s custody.

On the other hand, Worldline is one of the oldest payment facilitators in France. Their first operations date back to the 1970s when it was established. Since then, Worldline has established a significant position in providing payment options to online and retail businesses, irrespective of their size. Worldline is also the third-party payment partner for many banks, institutions and government agencies of several sectors.

Thus, one can trust these companies to make safe payments through cryptocurrencies in Switzerland.

Bitcoin and Ethereum payments
Source: Reuters

What are the benefits of this facility?

There are many upsides for the citizens of Switzerland from this facility. Here are some of the benefits that will be enjoyed by the citizens, merchants and others:

  • Merchants will gain a huge client base who are willing to make payments in cryptocurrencies.
  • Merchants can gain access to Bitcoin and Ethereum which will appreciate in value in the long-term.
  • The service protects the interests of the sellers by liquidating the payments into the Swiss francs so as to reduce the impact of volatility.
  • Customers have a wide variety of payment options such as through Fiat, Bitcoin and Ethereum.
  • Cryptocurrency adoption in Switzerland will be boosted on account of this service.