Austrian leading mobile service provider, A1 Telekom Austria Group, announced its subsidiary, A1 Payments, will be accepting digital currency payments like Bitcoin and Ethereum. On Monday, a posted blog stated the firm's new payment system would allow individuals as well as corporations to transact with thousands of merchants across Austria.
BEG announced A1 Payment's plans to get into the digital currency payment back in August 2019, with the Head of A1 Business Marketing, Markus Schreiber, saying then:
“With our pilot operation in the A1 shops, we are testing the demand and acceptance of digital currencies in Austria.”
A1 Payments pilot included several cryptocurrencies, including BTC, ETH, Dash, Litecoin (LTC), and XRP. However, the main launch has begun with the inclusion of the first three, and more tokens to be added in the future.
The digital payment system also allows other cashless options for merchants, including bank credit cards and payments via online platforms such as Alipay.
Similar to other crypto payments intermediaries, A1 Payments provide the payment terminal, take care of its maintenance, and the processing of payments. This means that all the trades by crypto users in merchant shops or towards corporations will be settled in EUR. Hence the receiving counterparty does not need any knowledge in digital currencies to accept them.
The Austrian company aims to offer seamless payments across their customers, enabling “companies with only one terminal to accept digital currencies alongside conventional payment methods.”