Payments with digital currencies such as Bitcoin, Ethereum or Dash are converted into euros in real time at the cash desk.
Digital currencies are in addition to A1 Payment’s existing payment methods which include Maestro and credit cards and online platforms like Alipay.
Regardless of the digital payment method used, the retailer receives the purchase price in euros to eliminate any exchange rate or currency risk.
The company stresses that no specialist knowledge of crypto-currencies is necessary and that retailers with a single terminal can accept digital currencies alongside conventional payment methods.
In the past, the inconvenience and expense of multiple terminals to handle different payment methods has been an inhibiting factor, particularly for smaller retailers.
A1 provides the payment terminal, and takes care of its maintenance and payment processing.
The A1 Payment terminals are provided by Ingenico, while the payment software for card payments comes from Concardis.
The technical basis for the new digital payment methods is provided by Salamantex, a Fintech company located in Lower Austria, which specialises in developing software solutions for payment using digital assets and combining them with established payment solutions.