Supermarket store to accept cryptocurrency in the future
Supermarket stores will soon accept cryptocurrency for payment in an effort to grow its sales, the retailer said on Tuesday.
The move follows a trend across the industry, where many businesses are also starting to accept cryptocurrencies.
The latest news comes as retailers such as Whole Foods and Costco are adding cryptocurrency to their checkout systems to cater to the growing number of cryptocurrency enthusiasts.
In an interview with CNBC, Chris Burdett, head of retail innovation at Costco, said the cryptocurrency was an attractive payment option for customers who are looking to use it for other transactions such as purchases of gift cards.
The store’s head of international sales, Chris Stengel, said customers will be able to pay for their purchases using cryptocurrency as long as the cryptocurrency is not listed on the company’s website or on its mobile app.
“When they buy at Costco.com or wherever, they will get the option to pay with a credit card or they can pay with cryptocurrency,” he said.
“We’re excited about that, and we think that it will have a positive impact on the business.”
In April, Costco announced it would add cryptocurrency as an option for its online shopping and loyalty program.
Costco, which also operates restaurants and stores, is currently using bitcoin to pay its employees.