Australians can now Buy Fuel And Chips With Crypto

On The Run (OTR), a convenience store and petrol station brand, announced recently that it will now support crypto payments at all 175 of its locations across Victoria, South Australia (SA), and Western Australia (WA).

OTR is the latest in a string of businesses to start accepting cryptocurrency as payment, following in the footsteps of other major brands such as Microsoft, Overstock, and Expedia.

As reported, OTR, Singapore-based exchange Crypto.com and DataMesh, Sydney-based payment systems provider are collaborating to provide the Pay Merchant service as a payment settlement layer. Datamesh has provided the point of sale terminals for this service.

OTR Plans to Expand The Crypto Payments to More Stores in Australia

OTR’s parent company Peregrine Corp is looking to add Crypto.com’s zero-fee transaction service to an additional 250 stores across the country. This would include stores such as Subway, Oporto, and Krispy Kreme.

There are no plans for fees on the customer’s end, but merchants will be able to set their own rates. While questioned on what would be needed to make crypto payments widely adopted in Australia, Karl Mohan, general manager at Crypto.com opined that the utilization of an Australian dollar-backed stablecoin could be the key, especially given the tax obligations of paying with crypto assets.

According to a recent survey, a large number of consumers are ready to start using Australian stablecoins for payments. This is a significant development, as stablecoins have the potential to become mainstream payment methods. ANZ has already announced an Australian dollar stablecoin, and other banks are likely to follow suit. This will make it easier for consumers to use stablecoins for everyday transactions.

A Big Move for Crypto Industries in the Direction of Point of Sale

This announcement that convenience stores across Australia will accept crypto has caused some excitement in the crypto world. The crypto payment will be made possible by the integration of crypto exchanges and payment processing services into the existing point-of-sale system. The motive is clear for the crypto businesses – to increase their market reach and increase the adoption of crypto around the world.