A1 telekom to accept crypto payments

A1 Telekom, ready to accept crypto payments

The giant Austrian mobile network operator A1 Telekom is finally accepting payments with crypto. Currently, it is available in seven Austrian shops. They are Kärntnerstraße, Wien Mitte The Mall, Krems Bühl Center, Graz Herrengasse, Linz Landstraße, Salzburg Europark, and Innsbruck Kaufhaus Tyrol. The network, for now, supports six cryptos including Bitcoin, Ether, XRP, Litecoin, Stellar, and Dash.

This digital payment service of A1 Telekom is the result of cooperation between Salamantex, Concardis, and Ingenico. Salamantex is an Austrian crypto specialist while Concardis is a German cashless payment provider and Ingenico is a French payment solutions supplier. Additionally, A1 intends to enable Alipay and WeChatPay somewhere around this month. The arrival of digital currencies is outperforming the cash, says Markus Schreiber of A1 telecom. This addition will contribute to the mass acceptance of cryptocurrencies.

However, A1 customers may undergo a price conversion risk during transactions. A customer while purchasing service will get a fixed conversion price of a chosen crypto. Meanwhile, within the transaction period,  the providers will try to lessen the price fluctuation risk.

Austria has always shown interest in cryptos and blockchain-based developments. It is not only exploring the possibilities in the financial sectors but also in various other sectors. In July, a two-centuries-old Austrian printing firm launched a hardware crypto wallet, Chainlock.  This hardware crypto wallet focuses on the issues related to online wallet hackings.