Bitcoin Suisse, Worldline to Bring Crypto Payments in Switzerland

Swiss crypto financial services firm Bitcoin Suisse has partnered with Worldline, a payment company, to bring cryptocurrency payment services to Swiss merchants and consumers both in-store and in web-shops.

Announced on Friday, the two companies will leverage the existing nationwide payment infrastructure of SIX Payment Services.

Commenting on the development, Dr. Arthur Vayloyan, CEO of Bitcoin Suisse, said: “Our partnership with Worldline is a major step forward on the journey to bring crypto Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term into broader adoption. Bitcoin Suisse is proud to serve as the processor of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term in Worldline’s payment service system. We applaud them for their pioneering spirit in taking this monumental step and pointing the way forward for others.”

Bitcoin Suisse will be responsible for the technology and infrastructure for the payment network, while Worldline will provide the market access being a member of SIX Payment Services.

Payments in crypto can encourage the adoption

Per the announcement, the goal of the partnership is to augment the existing payment service network of Worldline with cryptocurrency payment capabilities and – vice-versa – endorse the use of cryptocurrency in the country through its acceptance as payment currency on a large-scale both at the Point of Sale and in e-Commerce.

“As a market leader, we have a reputation to introduce latest payment functionalities that enhance the customer journey as well as boost efficiency and profitability for our merchants. Through the cooperation with Bitcoin Suisse, merchants can benefit from an entirely new offering without taking any conversion risk,” Marc Schluep, CEO of Worldline in Switzerland, added.

Though the original idea behind Bitcoin is to build a digital payment system, the coin's surging price turned into an asset. However, crypto payment services are gaining steam lately. Earlier this year, Flexa tied with a Canadian crypto exchange to bring in-store crypto payments in the country.