Did you know that some fast food restaurants now accept cryptocurrency as a payment in specific regions? Now you can get your favorite burger or milkshake with more options than just paying with your country’s fiat currency!
Even other businesses throughout the global industry such businesses in the casino industry, are also accepting crypto. Whether it’s a fast food restaurant or a casino, check their payment terms and conditions to find out how you can fund eating out and playing your favorite casino games.
Why Some Companies Are Now Accepting Crypto
It turns out that paying with cryptocurrency has fewer transaction fees than paying with a debit or credit card. Credit or debit cards usually cause a $0.25 or higher transaction fee with each swipe and then the business is responsible for paying another 2% to 4% of the entire total of the customer transaction.
Crypto transactions usually incur 1% or less of the total of the transaction. Hence, the more customers that utilize crypto as a payment method means that there are fewer business fees that the business has to pay.
Foreigners who are visiting the United States from a different country may not have acceptable debit and credit cards for payment. Utilizing crypto helps to increase merchants’ sales because these individuals can pay with crypto and still get the merchandise they need.
Using crypto is also more secure than using a debit or credit card. Where fraudsters can use card skimmers to get debit and credit card information, this cannot be done with crypto, which means it protects clients’ payment methods better.
1. Burger King
Burger King in Paris, France accepts crypto payments as of March 2023 with machines that are connected to Binance Pay and Alchemy Pay accounts for the crypto payments to be accepted. Their accepted crypto are the popular ones Bitcoin and Ethereum and even Dogecoin.
There was also a crypto promotion that the fast food restaurant chain ran in connection with Robinhood back in 2021. You had to make a $5 purchase on the Burger King app and get a reward code to place into your Robinhood crypto account.
2. KFC
Back in 2018, KFC Canada did a limited-time promotion where they accepted crypto when they released a chicken bucket with crypto coins on it. The crypto bucket was a $20 featured meal that included 10 Original Recipe Tenders, a side of Waffle Fries, another medium side of your choice (such as mashed potatoes, mac and cheese, coleslaw, etc.), medium gravy, and two dipping sauces.
No other news has been published since then on whether KFC continues to accept Bitcoin as payment or not in different parts of the world. One of the other Yum! Brands, such as Pizza Hut, accept crypto in Venezuela. We will wait and see.
3. Starbucks
In 2016, Starbucks also placed the iPayYou crypto wallet into the Starbucks app to make it easier for regular visitors to pay for their favorite cup of Joe with their crypto investment if needed. About 24,000 Starbucks stores are now compatible with this integration to pay with crypto using the mobile app.
Starbucks made a partnership with the crypto company Bakkt in 2018 to where they can now accept crypto payments in certain regions where they can convert these payments into US dollars. Hence, it costs about 0.0068 percent of Bitcoin on average to get a latte.
4. Subway
Back in 2022, Subway locations in Berlin, Germany were testing out customers paying with crypto via The Lightning Network. The layer-2 Bitcoin payments make it more secure for the customer frequenting the establishment. Before that, Subway attempted to see how accepting Bitcoin would work in three chain stores throughout Moscow, Germany.
Lipa is the operating system that connects customers to The Lightning Network. It is only a 1% fee per crypto transaction that Lipa takes versus debit and credit card payments being more than double that as low as 2.5%
Conclusion
Many food companies are now accepting crypto to increase the convenience of additional payment options for customers and to pay less fees when processing transactions. Which fast food restaurants accepting crypto did we miss? Let us know in the comments.
This article was written in cooperation with HighRiser Digital Marketing