Singapore’s Kopitiam Food Court Starts Allowing BTC Payments

Singapore’s Kopitiam food court which is popular in many malls in the country has made possible for Bitcoin holders to make payments in the cryptocurrency. We read more in the latest cryptocurrency news below.

Kopitiam is among the largest food-court operators in Singaporean malls and at the Kopitech Food Court in the new Funan mall, the customers can now order through self-service kiosks or via Facebook messenger. They can also pay by using a QR code which is located on each table. What is more interesting is that the customers can now pay using cryptocurrency. Among the other payment methods, the food-court kiosks now accept bitcoin, creatanium, and ethereum.

The KOPITech systems cost about $500,000 for the food-court to develop in-house. The cryptocurrency payment option was included since the CEO of the company Alden Tan has a huge interest in the blockchain technology. He noted:

‘’Allowing cryptocurrencies will help us to learn more about this segment of the payment system. This group of customers may grow in the future, so this is what we want to attract. We are always mindful of how we could add more customers to the food court.’’

What is also interesting is that the conversion from cryptocurrency into fiat will take place on a weekly basis and Kopitiam will bear the risks of any currency fluctuation. The Stallholders will receive payments in Singaporean dollars as usual. If it turns out that the response to the KOPITech food-court at the Funan mall is positive, Singapore’s Kopitiam food court will roll out other outlets that will allow cryptocurrency payments.

As noted in the coming altcoin news, it seems like accepting bitcoin in retail is rising again after the dull period that saw many of the adopters give up on the technology. In the couple previous months, the luxury hotels and car dealerships in Switzerland started to accept payments in cryptocurrency but also major US retailers are choosing Bitcoin over Visa. One US retailer even considers giving up Visa for good and choosing Bitcoin and its Lightning Network payment as a nationwide payment option. The new technologies and payment processors mean that it is much easier now to start allowing bitcoin payments since the conversion to and from crypto can be processed instantly.