On The Run (OTR), a chain of gas stations and convenience stores, has begun accepting cryptocurrency payments at all 175 of its locations in Victoria, South Australia (SA), and Western Australia (WA), as of August 18.
As was previously mentioned, the action is a result of a partnership between DataMesh, a Sydney-based provider of payment solutions, and OTR, a Singapore-based exchange Crypto.com.
While Datamesh provided the point of sale terminals, the exchange provided its Pay Merchant service as a payment settlement layer.
Asia & Pacific General Manager of Crypto.com Karl Mohan stated that it only took “eight weeks to to the point of actually getting a full scalable production-ready environment” from the time of proof of concept.
While the technology has originally been installed at 175 OTR stores, Mohan stressed that the crypto payments service is operationally prepared to go considerably further.
He also offered opportunities to business or cafe owners who wanted to join the movement.
In addition to the 175 locations, OTR’s parent firm Peregrine Corp plans to expand the availability of the crypto payments service to 250 other retail locations nationwide, including Subway, Oporto, and Krispy Kreme.
In this case, according to Mohan, Crypto.com does not collect any fees for the transactions; nevertheless, the merchant may impose costs at their discretion. Such might imply that transaction costs might be comparable to those of fiat card payments.
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