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Australians can now use cryptocurrency to pay for fuel and chips at 175 gas stations

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

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 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, 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.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.