Cryptocurrency News

Austria’s Leading Telecom Company to accept digital currency at 7 specific store locations

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One of the most popular mobile service providers in Austria, A1 is planning to accept digital currency for payment in seven specific store locations across Austria, news according to tech source, Future zone.

Austria’s first GSM mobile phone network and top broadband service provider, A1 Company, currently outlining its plan to test digital currency payments in selected store locations. A1 telecom firm offers services to around 5.1 million mobile users and fixed lines services to 2.1 million throughout Austria.

A1’s Payment Service accepts 6 cryptocurrency

The payment service of A1 will start working from August 19, customers of A1 will be allowed to pay for its network services at specific stores of A1 using any of the cryptocurrencies namely, Ethererum (ETH), Bitcoin (BTC), Dash (DASH), Litecoin (LTC), Stellar (XML) and Ripple (XRP), information as per the public announcement of August 16.

A1 Telecom Company established in 1881, provides services to 5.1 million mobile users out of 6.2 mobile phone users in Austria. The new innovative payment platform will focus more on attracting tourist people rather than the local residents.

The payment service of A1 is a virtual payment platform. A1 collaborated with payment solution providers, Ingenico, Salamantex, and Concord and designed A1s digital payment service. These payment solution firms will help remove the volatility of price through the banking solutions framework.

Business marketing head of A1, Markus Schreiber confirmed the development news saying, “the company is running the pilot program to examine what cryptocurrencies for payment bring to the table.”

The digital payment service of A1 was initially revealed in June.

Pay Using Chinese Payment solution

Apart from accepting payment with digital currency, the A1 payment service will also allow its users to pay for A1 services through WeChatPay and Alipay –the payment solution providers of China, by the end of this month, the press release mentions.

Schreiber informed that cryptocurrency payment is becoming more common across the world and paying with cash is becoming ‘an obsolete model,’ and this is significantly affecting various organizations.

Further, he said, “With our pilot operation in the A1 shops, we will test demand and acceptance of digital currency in Austria.”

The first testing round will be implemented through Alipay and WeChat Pay.

Customers can visit any of the A1 stores to pay for the services, namely Wien Mitte The Mall, Karntnerstrabe, Krems Buhl Center, Linz Landstrabe, Graz Herrengasse, Innsbruck Kaufhaus Tyrol and Salzburg Europark.

Paying with cryptocurrency is currently restricted to seven A1 stores; if everything works fine, it will be expanded to various cities in the future.

During the pilot program, customers at the time of purchasing A1 service will gain a ‘fixed conversion price’ over the currency selected, however the price volatility during the transaction verification would be reduced by operators.

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