As more and more individuals around the world get interested in cryptocurrencies and start investing in them, there is a massive increase in stores, shops, restaurants and coffee shops that are gradually accepting cryptocurrencies like Bitcoin, Ethereum and Litecoin as payment. Accepting virtual currencies as a means of payment makes the experience better for the customer and is more convenient for the seller as well. These changes are happening slowly, store by store, when the owners decide to adopt those technologies. However, in Australia, the first “big move” for cryptocurrency payments in physical, brick and mortar stores is happening as we speak.
In Brisbane in Australia, the Brisbane Airport (BNE) has announced that it will implement and introduce cryptocurrency payments at multiple retailers throughout one of their terminals. The objective is to make the whole terminal crypto friendly and therefore attract more digital currency enthusiasts. The airport organization claimed that accepting virtual currencies has many advantages over using normal fiat currencies. Payments are extremely fast, sometimes almost instant, and the fees are low. This means that stores will have fewer fees to pay on each purchase, compared to a credit or debit card purchase. Another huge advantage for travelers is the fact that there is no need for multiple currencies, as cryptocurrencies are usable worldwide. Usually, travelers will have to incur currency exchange and conversion costs, as well as experience a bad rate if they are in their non-home country. This is not the case with cryptocurrencies. The airport announced a partnership with TravelbyBit, an Australian company, that will allow the stores to accept digital currencies like BTC, Dash and, ETH for now.
It makes a lot of sense for an airport to start accepting coins and tokens, as many crypto investors are also world travelers. This is what the General Manager of the Brisbane Airport Corporation said: “Many people around the world have made money investing in cryptocurrencies and a lot of these people travel internationally, so it makes sense to offer a digital currency experience within our terminals.”
This move by the airport shows that larger corporations and retailers are getting more open to digital currencies and their potential opportunities. This contrasts with the recent news of four major Australian banks who have reportedly been freezing accounts of customers who were investing in cryptocurrency. In the future, there will hopefully be more companies, banks, and governments opening up to the idea of using these currencies in our everyday lives. It could reveal to be huge for travel and payments in general.
TLDR: The Brisbane Airport has announced a big move to make their terminal almost completely cryptocurrency friendly. The airport is hoping to accept the digital currencies in most of their stores in the near future.