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Do Restaurants Accept Cryptocurrencies?

Nov 24

Restaurants may wonder if they should accept Bitcoin or other cryptocurrencies. The simple answer is yes, as long as they can afford the added fees. In addition, accepting digital currencies such as Bitcoin is a great way to attract expendable customers who might otherwise never set foot in the establishment. Luckily, many restaurants are now willing to offer such options.

Subway

In addition to accepting Bitcoin, Subway now offers its customers the option of using cryptocurrency to pay for their food. Customers can simply show the QR code to the Subway employee, who will then scan the code with their preferred application and send Bitcoin to the company's wallet. If customers are not comfortable with using cryptocurrency, they can also opt to pay with their credit card instead.

Currently, Bitcoin is the only major cryptocurrency accepted by Subway, but other cryptocurrencies may follow in the near future. It is unclear when these cryptocurrencies will be accepted everywhere, but the news of Subway accepting cryptocurrencies will likely increase public awareness of the new digital currency.

Burger King

In an attempt to make its customers more comfortable with crypto payments, Burger King has collaborated with the Robinhood App to accept cryptocurrencies. However, the company did not say whether it would still accept the cryptocurrency in the future. However, it did share a video on YouTube about this program and the future of cryptocurrencies.

According to the site, the promotion will begin today and will run through Nov. 21. During the promotion, users will be able to collect up to 21 prizes. The restaurant chain's representative declined to comment on whether or not the chain would accept cryptocurrencies in the future. However, in 2017, the company launched the Whopper Coin cryptocurrency in Russia. However, it has fallen out of favour with investors, and recent sales have not triggered an increase in the coin's value.

Chipotle

A Mexican style fast-food restaurant chain, Chipotle, is going digital and accepting cryptocurrency payments. The company is partnering with a digital payments service called Flexa, which supports 98 different cryptocurrencies. Those wishing to make a payment through a cryptocurrency such as Bitcoin or Ethereum can use the SPEND or Gemini app to do so.

The digital payment service allows users to pay for their meal using their digital currency wallet. The app supports nearly 100 cryptocurrencies and is said to process payments within seconds. However, Flexa isn't revealing how the company pays out its customers or what digital assets are accepted. The company did not respond to requests for comment.

Quiznos

Starting mid-August, Quiznos will begin accepting Bitcoin as a form of payment. In return, customers will receive a £15 reward in bitcoin for using the new payment method. Initially, the program will be available only in Colorado and the Denver metro area. But it's possible that the company will eventually expand the program across the U.S.

As part of its new initiative to embrace cryptocurrency, Quiznos has partnered with digital asset startup Bakkt to begin accepting bitcoin payments. Quiznos customers can now pay in bitcoin through the Bakkt mobile app, which allows them to link all of their loyalty points and cryptocurrency assets into one wallet.

Safari Comedor

The Safari Comedor restaurant in Tulum, Mexico accepts Bitcoin as payment. Its design takes cues from traditional Yucatan houses and it pays homage to Mexico's rich culinary heritage. It serves traditional Yucatan Peninsula dishes as well as Mexican dishes. Whether you are looking for a romantic dinner or a simple bite to eat, the restaurant can accommodate you.

Crypto payments are remarkably cheaper compared to bank card transactions and can make your business more appealing to customers. Moreover, transactions take just a few seconds. Another benefit of using cryptocurrency is anonymity. Since blockchains are permissionless, no one can freeze your crypto address or block your account.

Lavu

In a partnership that will soon enable thousands of restaurants worldwide to accept cryptocurrency payments, Lavu and Verifone are offering their clients new payment options. The merged software will allow restaurants to accept payments from multiple cryptocurrency and fiat currencies, including cash and credit cards. This will help restaurants meet the diverse needs of today's consumer, as they become more comfortable with digital transactions.

Lavu is a global restaurant software company based in the United States. The company has partnered with Verifone, a Fintech payments firm, to make cryptocurrency payments available to its customers in 65 countries. Verifone has a global network of more than 35 million payment devices, and has enabled mobile payments in over 150 countries. The initial solution will be a tablet-based point-of-sale device that allows customers to pay using cryptocurrency through a mobile terminal. Alternatively, customers can also complete their transaction using a smartphone.