OTR Steps Up: Embracing Cryptocurrency Across South Australia and Victoria

Crypto Payments at Your Fingertips

In an exciting leap towards modern payment solutions, On The Run (OTR) is set to accept cryptocurrency payments at 170 of its locations in South Australia and Victoria. Have you ever wished you could pay for your gas and snacks using Bitcoin while filling up your tank? Well, now you can! Customers will be able to use over 30 different cryptocurrencies, including the popular favorites, to snag a Subway foot long or a late-night snack without the fuss of traditional cash.

The Parent Company Joins the Digital Revolution

For those who didn’t know, OTR is a part of the Peregrine Corporation, a heavyweight in the world of privately-owned businesses in South Australia. They are not stopping at gas pumps and snack aisles. The plan is rolling out crypto payments across its other brands, like Subway, Oporto, and Smokemart. It’s a full-blown crypto-party and you’re invited!

Who’s Behind the Wheel?

The implementation is powered by Singapore’s own Crypto.com, bringing its Pay Merchant service into the mix. Datamesh, a nifty payment systems provider from Sydney, is in charge of setting up point of sale terminals, so not only can you buy snacks, but you’ll be able to pay with your crypto wallet like a futuristic wizard.

Words from the Top

Yasser Shahin, the executive chairman at Peregrine, has champagne dreams about cryptocurrency. He stated that getting on board this digital currency train was a clear opportunity that they simply couldn’t pass up. According to him, the surge in adoption and acceptance of cryptocurrency in Australia mimics the excitement of discovering chocolate ice cream for the first time—absolutely phenomenal!

Global Merchant Trends

While OTR may be moving ahead, not all merchants are on the crypto bandwagon just yet. A survey conducted by Crypto.com in February indicated that only 4% of merchants globally accept cryptocurrencies currently, despite nearly 60% showing interest in diving into the crypto waters soon. That said, 40% of customers worldwide are already using crypto for purchases, with 60% expressing eagerness to do so within the year.

The Future of Cryptocurrency in Australia

With retail and grocery merchants showing great enthusiasm—about 80% wanting to welcome cryptocurrencies into their stores—the movement is gaining traction. On the regulatory front, the Australian government is working on how to handle crypto. Senator Andrew Bragg is in on the action with a proposal called the Digital Services Act (DSA), aiming to mold Australia into a blossoming ‘crypto hub.’ So, folks, get ready because Australia is officially open for crypto business!