- Cardano Foundation brings ADA payments to 137 SPAR stores in Switzerland.
- Rollout is being carried out in collaboration with Swiss crypto payment firm DFX.swiss.
- Shoppers can now pay directly with ADA from their wallets at checkout, no exchange needed.
This week marked a big step for Cardano, as the Cardano Foundation (a Swiss-based nonprofit working to grow Cardano as a public digital infrastructure) announced that ADA can now be used to pay at 137 SPAR supermarket stores across Switzerland.
The rollout is happening through a collaboration with Swiss crypto payment firm DFX.swiss, which is integrating Cardano into its Open Crypto Pay system for in-store purchases.
Shoppers can pay directly with ADA from their wallets at checkout, without using a centralized exchange. The payments settle on-chain in real time, so it feels similar to using Apple Pay or TWINT.
According to the companies involved, the system cuts merchants’ costs significantly, since transaction fees are about two-thirds cheaper than regular card payments.
Cardano Foundation CEO Frederik Gregaard said the partnership is about making blockchain tech fade into the background, so paying with crypto feels just as easy as using a debit card. Gregaard said,
Switzerland as a Crypto Payments Hub
This development didn’t come out of the blue. Switzerland has long been one of Europe’s most crypto-friendly spots (often called “Crypto Valley”), with clear rules and a fintech culture that makes it easier for businesses to pilot blockchain payments.
Plus, SPAR has been testing crypto payments for a while now. Earlier trials covered Bitcoin and other coins, including Lightning Network setups and QR code wallet payments at certain stores, before rolling out to more locations.
Generally speaking, retailers are exploring blockchain payments for several reasons, a major one being lower fees. Additionally, settlements happen instantly without middlemen, and there is a growing number of customers who want to pay with digital money.
Cardano has been pushing hard to get adopted in the mainstream and positioning itself as a public digital infrastructure, not just another chain for smart contracts. The partnership with SPAR represents one step closer to that goal.
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Source: https://coinedition.com/cardano-ada-accepted-at-137-spar-supermarkets-in-switzerland/
