Major Mid-Atlantic restaurant and convenience store chain Sheetz is the latest addition to the list of institutions that now accept bitcoin as payment for their products.
According to the company, claiming they are the first convenience store chain to accept the crypto, the payment method will be offered through digital network Flexa, and other digital currencies such as ether, litecoin, and dogecoin will also be accepted.
Trevor Filter of Flexa, in a statement, said, “With interest in digital currencies reaching all-time highs, it’s easy to lose sight of the fact that there are real, tangible benefits for the merchants who accept them.” The official pointed out reduced fraud, cost savings, and better and mobile customer experience as just some of those benefits.
Recognizing bitcoin as payment
Talking about their decision to enable bitcoin payment, Sheetz Payment Manager Linda Smith noted the growing influence of having crypto as compensation for products in the current financial setting.
She explained that they are constantly looking for innovations and exploring new offerings to give their customers what they want. She added, “When they want it, 24/7/365 – that includes accepting many forms of payment.”
As for the institution, the chain operates 622 locations across the U.S. and it is expected that many customers will benefit from this development. Sheetz, however, did not disclose if their recent business move is an indication that they have bitcoin on their balance sheets.
More institutions join the bandwagon
As it would appear, this trend is continuing to grow as many institutions join the bandwagon.
Recently, Camping World, the largest recreational vehicle (RV) dealer in the U.S., announced it will also accept bitcoin, which currently trades at $36,469, a form of payment for their products.
This comes even after electric car giant Tesla halted its acceptance of the largest cryptocurrency as payment for its vehicles, resulting in a steep fall of the entire crypto market.
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