American Nightclub Association Plans to Accept Cryptocurrency
Mass adoption continues to be a major prerogative of cryptocurrency experts, market participants, and institutional supporters in the growing crypto space. Adoption by the masses would be a momentous step on the road to cryptocurrency becoming the norm all over the world. But so far, it has been hard for the community to break into sectors outside of the stereotypical blockchain-oriented banking services and financial industries. Especially in the dry cryptocurrency season of 2018, it seems especially important that the industry break ground in new sectors.
In yet another good piece of news to this end, an association of night clubs in the United States plans to accept cryptocurrencies as a form of payment in many of their locations. The American Nightlife Association, known as ANA, is a coalition of 30,000 bars and nightclubs within the U.S. This makes it one of the most premier associations for this brand of company, and their members span across nearly every state in America.
In a shocking but exciting development, the company has recently announced a new partnership with Paytomat, a decentralized payment platform based In the United States. A press release by both companies outlined that they will work together to form a functional payment system using Bitcoin as the main component for the nightclubs.
A Budding Partnership
According to the new deal by the two companies, ANA will work with Paytomat to create a network of financial partners across the United States, including cryptocurrency exchanges, ATM machines, and banking organizations. This network will allow the American Nightclub Association to efficiently implement a Bitcoin payment system in many of their member nightclubs and bars. For Paytomat, this will help them to launch operations within the United States and expand to the many companies held under the ANA umbrella.
The ANA chief of sales responded to the new announcement, saying that the ANA seeks to use the new partnership to provide nightlife professionals with “trends, tools, resources, and strategies” that will allow them to capitalize on trends and increase revenue streams and efficiency. Using cryptocurrencies as a form of payment will be a core component of this strategy moving forward, because ANA believes that it offers its members a “competitive advantage.”
A History of Success
Paytomat is no new presence on the cryptocurrency and financial scene. The company already has a significant presence in Europe, with critics and users praising the user-friendly interface and intuitiveness of the service all across the continent. In particular, Paytomat offers a system without new software requirements, and does not charge fees for its businesses.
ANA is an essential part of the company’s goal to expand to the United States, where an eager crowd of nightclub-goers could provide the perfect target for cryptocurrency payment systems.
Using a token system to incentivize the use of their service and help to generate revenue, Paytomat remains confident that their service will be very effective in boosting revenues and expanding cryptocurrency adoption in the United States, much like it has evidently done in European countries.