The world’s largest fast food franchise, Subway, has started accepting Bitcoin payments. The company is testing Bitcoin’s second-tier payment solution, the Lightning Network (LN).
Customers can now quickly scan an LN-compatible QR code that enables instant, low-cost payments.
The first tests of Subway’s new payment method are taking place in Berlin, Germany, where they receive positive feedback.
According to local news, Daniel Hinze, a franchise owner of Berlin Subway, said more than 100 Bitcoin payments have been made in recent days.
The company first began testing digital currency payments in Moscow, Russia.
Kick-off of the 7-day #usingbitcoin week with Lunch at Subway, Chausseestrasse in Berlin! 🇧🇷
50% discount when paying with #bitcoin
🇧🇷 #spendyourbitcoin pic.twitter.com/f81kdMOnEQ— felix (@felixbilert) October 19, 2022
Subway accepts bitcoin in Germany
To encourage the initiative, the Subway franchisee offered a 50% discount on all payments for a week.
“During the week there was of course a huge demand. Our three restaurants were frequented by people who liked to pay with Bitcoin.”
To enable Bitcoin payments, the restaurant owner has partnered with Switzerland-based Bitcoin company Lipa, which provides an easy-to-use point-of-sale solution.
“Five years ago I started working with cryptocurrencies; and for the past two years I have been dealing with Bitcoin very intensively. With that in mind, I decided that Bitcoin could be the best currency system.”said.
According to Lipa CEO Bastien Feder, Bitcoin is a currency and his mission is to make it irresistible to use.
Lipa has installed devices in restaurants that allow customers to scan QR codes to enable fast payments at a lower cost. The director said traders pay a 1% fee for the service.
He added that the Bitcoin community in Germany, Switzerland and other parts of the world has grown exponentially. The Bitcoin LN payment experience is believed to be completely different from when Subway franchises first accepted Bitcoin payments in 2014, when customers had to wait several minutes for the payment to be processed.
With the Lightning Network, customers enjoy instant payments and lower fees than credit cards.
Bitcoin was created in 2009 and although few shops or restaurants accept it, more and more merchants are adopting it, and even Subway’s competitor McDonald’s is now accepting Bitcoin as a form of payment.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
