Swiss Online Retailer Digitec Galaxus Now Accepting Crypto Payments

News | March 20, 2019 By:

Digitec Galaxus AG, Switzerland’s biggest online retailer, has announced that is now accepting crypto payments.

Digitec Galaxus operates the Digitec and Galaxus online shops as well as ten stores in the German- and French-speaking parts of Switzerland. It currently offers around 2.7 million products, including personal computer (PC) and components, servers, peripheral devices, digital photography and video products, computer games, notebooks, tablets and e-reader, video games, digital imaging products, mobile phones, and gadgets, among others.

In an official announcement, the company said it is now accepting bitcoin, Bitcoin Cash, Bitcoin SV , ethereum, Ripple, Binance Coin, Litecoin, Tron, NEO and OmiseGO for purchases worth over CHF 200 ($200 USD). According to the firm, the crypto payment method was co-developed as part of a pilot project with Swiss e-payment specialist Datatrans AG, which cooperates with Danish crypto payment provider Coinify.

“Cryptocurrencies are fascinating and likely to become a relevant means of payment in e-commerce – we want to support this development,” said Oliver Herren, CIO and co-founder of Digitec Galaxus. “Of course I’m expecting all crypto millionaires in Switzerland to only buy from us in the future.”

Customers who choose to pay with crypto will be redirected to a Coinify page where they will be able to select the desired means of payment from a list of supported cryptocurrencies.  The customer will then receive a confirmation within 15 minutes as well as all payment details in text and QR code format. The customer then triggers the transaction with a crypto wallet. Coinify will charge a fee of 1.5% of the purchase price via the conversion rate.

“So far, paying by cryptocurrencies hasn’t been viable for most people,” said Hanspeter Maurer, Managing Director of Datatrans. “We’re keen to find out how digitec and Galaxus customers take up this offer.”