10,000 retail stores in France are now selling a coupon for Bitcoin, Ethereum, Dash, and Litecoin. The latter is the effort of Digital Service, a cryptocurrency company and Ingenico, a leading firm in payment solutions. Their partnership led to the launch of DIGYCODE which gives people the ease of purchasing virtual currencies, reports a media outlet on February 16.
10,000 Retail Shops in France to Trade Virtual Currencies
Per the report, Digital Service and Ingenico have collaborated to enable 10,000 retail shops in France to sell virtual currencies. These stores are offering cryptocurrency vouchers worth €20, €50, and €200 for sale. The vouchers can then be redeemed for Bitcoin, Ethereum, Dash, and Litecoin on Digycode’s website.
Reportedly, Digital Service was able to raise revenue of $2.8 billion in 2017. In 2018 there were only 50 shops in the area offering the Digycode coupon for sale. Therefore, more shops have been incorporated to make it easy for people to walk-in and make crypto purchases.
Giving Confidence to Customers to Purchase Cryptocurrency
Christopher Villegas, CEO of Digital Service stated that DIGYCODE had been provided for those who do not want to leave their bank information online. These are people who may also be reluctant to make purchases due to the fear of being scammed. Therefore, it provides an easier means for them to buy these assets and from a trusted platform.
The CEO also added that the service protects customers from the volatility of digital assets. In this case, the price of the cryptocurrency is determined as at when a request is made by the user to transfer these funds to their wallet.
Christopher Villegas also said:
The deployment of DIGYCODE is the result of a partnership between Digital Service and Ingenico , and tobacconists equipped with a Devlyx cash register are therefore eligible to sell our product for their customers.
Higher Fees in Comparison to Cryptocurrency Exchanges
While this service makes it easier for people to purchase digital currencies, the fee is higher. In this case, 8 percent will be charged for each transaction. The higher fee has been attributed to the fact that it is being shared by three providers which are Ingenico, tobacconist, and Digital Service.
On January 9, BTCNN reported that Tobacco stores in France are now selling bitcoin. The latter was made possible by Kerplek, a French Fintech group. Here, customers at Tabacs can obtain vouchers and then redeem it for Bitcoin on the Kerplek website.