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Topic: Grocery giant SPAR accepting Bitcoin payments via lightning network (Read 477 times)

headingnorth (OP)

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Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 02:23:22 AM
Last edit: April 30, 2025, 07:47:58 AM by headingnorth

Merited by goldkingcoiner (3), nutildah (1), ABCbits (1)

After running a successful pilot in two locations a supermarket chain is rolling out bitcoin payments across Switzerland.
Spar is one of the largest grocery chains in the world with thousands of locations on four continents.

If a big company like this can prove bitcoin can work for payments on everyday consumer items, that will be big for bitcoin adoption.
Bitcoin works well enough on its own as a store of value, but if it can also be utilized as a viable payment option to me that is just icing on the cake.

What are the benefits to the merchant? Lighting transaction fees are fractions of a penny, almost nothing compared to the big fees
merchants must pay every time the customer swipes their bank card. And settlement time is much faster, minutes instead of days.
Of course lightning is much cheaper and faster than going through the base layer.

SPAR grocer to launch Bitcoin payments across Switzerland after successful pilot in two locations

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 02:40:13 AM

This is a big win! I am curious what wallet or software this big grocery giant store uses to allow its customers can pay Bitcoin via the Lightning network.

Now, this is one of the best use cases of the Lightning network. And let's expect that soon, more grocery stores or even small to medium businesses to follow what they did.

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 05:51:41 AM

Quote from: GreatArkansas on April 30, 2025, 02:40:13 AM

This is a big win! I am curious what wallet or software this big grocery giant store uses to allow its customers can pay Bitcoin via the Lightning network.

Quote

SPARs crypto payment system is powered by OpenCryptoPay, a platform developed by DFX Swiss, which uses the Bitcoin Lightning Network to enable fast and low-cost transactions. To complete their purchase, shoppers simply scan a static QR code presented by the cashier on checkout.

Looks like a third-party is handling the payment.

However, it's an additional advantage to SPAR because customers can pay with either cash or bitcoin for small transactions. The problem that customers might face especially those who have zero knowledge on tech will find it difficult to set up a LN channel to carry out such small transactions.

It's a good innovation for the grocery shop. If more businesses continue accepting bitcoin, I feel that the rate as which people are using bitcoin as a payment method will increase.

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 06:25:24 AM

I'm not familiar with the payment system provider. Their social media account has few to no followers. Looks like it's a new payment service for B2B. Does anyone know about their track record?

I wonder what the result of the trial is. The scope of expansion is not clear either. If it's just one or two stores for each city, I guess it's not that massive. Still a good thing if they really accept crypto though.

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 07:17:41 AM

Quote from: GreatArkansas on April 30, 2025, 02:40:13 AM

Bitcoin becoming the real alternative - that's always great in my book, though the details a bit smoke-y as other have pointed out already.

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traderethereum

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 07:35:55 AM

It is a good move from the grocery. Spar could become a pioneer from other groceries so they will follow what Spar does. But it will be back to the government regulation about using Bitcoin as a payment system besides of fiat money.

If more grocery store especially the big one follow what Spar do, that will help the spread become wider and happen in other countries.

headingnorth (OP)

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 07:40:44 AM
Last edit: April 30, 2025, 07:58:55 AM by headingnorth

Merited by ABCbits (1)

Quote from: GreatArkansas on April 30, 2025, 02:40:13 AM

This is a big win! I am curious what wallet or software this big grocery giant store uses to allow its customers can pay Bitcoin via the Lightning network.

They use a Swiss provider OpenCryptoPay. They list the compatible wallets on their website.

https://opencryptopay.io/ecosystem.html

Quote from: Ruttoshi on April 30, 2025, 05:51:41 AM

The problem that customers might face especially those who have zero knowledge on tech will find it difficult to set up a LN channel to carry out such small transactions.

From what I understand the lightning wallet can handle that stuff for you.
I believe you are using the wallet's channel or company's channel so no need to open your own.

Or else it would be much too complicated to bother with. Just the mere mention of "lightning channel"
would scare away 99% of customers from using it. It should be simple to use as ApplePay or Paypal.

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 08:05:15 AM

Quote from: joniboini on April 30, 2025, 06:25:24 AM

OpenCryptoPay seems to be a new payment system that was designed to facilitate SPAR's crypto payment. Their X account was created this month which shows that they might be a new company. Every big firm started one day, so they will have to prove their competence. Maybe the trial they conducted in Zug and Kreuzlingen showed some level of success which is why they want it extend the crypto service to other locations

Any platform that promotes the use of Bitcoin and others for payments is a good one. It could lead to more people knowing about cryptocurrencies and even investing in Bitcoin.

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Ishicryptic

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 08:14:05 AM

This is another win for Bitcoin as a mode of payment, recently we heard about a university in the UK that is accepting it for tuition fees, with time other institutions and businesses will be doing the same. Bitcoin is primarily a decentralized digital cash for payments before it gained the reputation as a store of value and it seemed like accepting it for payments became relegated. I believe that in the near future more and more established businesses will be accepting it and it will help to drive it's adoption till every small businesses will also be accepting it. The skepticism around Bitcoin is fast reducing and more people and businesses are being open to accepting it as payments, this will help to drive the adoption more.

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 08:16:04 AM

#10

Quote from: Ishicryptic on April 30, 2025, 08:14:05 AM

I wouldn't say it's fast, rather, it's not stopping on one place all the while adoption moves forward.

We just need to wait and see the results.

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 08:19:27 AM

#11

Quote from: headingnorth on April 30, 2025, 02:23:22 AM

What are the benefits to the merchant? Lighting transaction fees are fractions of a penny, almost nothing compared to the big fees
merchants must pay every time the customer swipes their bank card. And settlement time is much faster, minutes instead of days.
Of course lightning is much cheaper and faster than going through the base layer.

Since transactions with Lightning network gets completed in under a minute, this is a very good development. I just hope it won't be too complicated for people to use. I also hope a lot of people embrace this payment method because this may obviously be a trial period nd if it doesn't work out the way the company expected they might stop it.

As for fees, I don't think the network fee has been over a dollar much for a long time. I know this might not always be the case but for this year, so far, the network fees have been very low.

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 08:28:44 AM

#12

Quote from: Alpha Marine on April 30, 2025, 08:19:27 AM

It may also be declined due to the merchants not getting their cut. We never know.

But, in any case, it's a great development and I hope it will stay that way.

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 08:37:21 AM

#13

Switzerland has been always in top position for bitcoin adoption. There are many services and vendors that accept and use bitcoin.
This is a great success not only for people that can spend their precious coins but also for "no coiners" that once see this technology widely accepted have no more excuse to not join this revolution.
I am looking forward to see this new option for payment by Spar also in other countries...

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 09:05:06 AM

#14

Quote from: bitbollo on April 30, 2025, 08:37:21 AM

I think such people would still see BTC as not needed, they need to see why it's a good alternative, not that it's just there.

Still, it would be their choice.

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 09:16:55 AM

#15

While i'm excited to see company accept Bitcoin as payment, sometimes i wonder how many people will actually pay with Bitcoin. For those who need to sell Bitcoin for daily needs, it's definitely more convenient going to this grocery store than selling their Bitcoin on exchange first.

Quote from: headingnorth on April 30, 2025, 07:40:44 AM

Quote from: GreatArkansas on April 30, 2025, 02:40:13 AM

This is a big win! I am curious what wallet or software this big grocery giant store uses to allow its customers can pay Bitcoin via the Lightning network.

They use a Swiss provider OpenCryptoPay. They list the compatible wallets on their website.

https://opencryptopay.io/ecosystem.html

I don't see Electrum on their list. I guess they only include wallet that they deemed user/beginner-friendly.

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hero_the_bossman

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 09:32:42 AM

#16

Quote from: ABCbits on April 30, 2025, 09:16:55 AM

Agreed. It's about doing something toward acknowledgment of the option being there at all and that people would see the potential and the opportunity to use BTC - and why they should try it in the first place.

Synchronice

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 09:44:14 AM

#17

Quote from: headingnorth on April 30, 2025, 02:23:22 AM

Does anyone know if its possible to pay with any Bitcoin wallet that supports Bitcoin lighting? Or does it require a specific 3rd party app, created by their payment provider? By the way, it's funny that Lighting Network is labeled as a failed experiment and Spar grocery chain decided to adapt it now. I don't understand who is going to pay with Lighting Network, it's very clumsy and hard to use for an average person. I think that this is another failed experiment but promoted differently to gain media attention and get a solid free promotion.

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aoluain

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 09:53:48 AM

#18

This is positive news for Bitcoin and the Lightning network for sure.

The thread title is slightly misleading because its only a pilot scheme in one country and IMO I
dont see Lightning payments being a massive payment channel for them, I hope I'm wrong though.

My reasoning is that FIAT is still the predominant means by which people get paid their salary
so its FIAT which will be paid by the vast majority of people through Google Pay, Apple Pay,
Chip and Pin and Tap and Go card payments as well as Cash.

While it might prove successful in Switzerland where there is a sizeable crypto community in a
relatively small area, globally though it may not be successful, hopefully I'm wrong.

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goldkingcoiner

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A Bitcoiner chooses, a slave obeys.

Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 10:18:16 AM

#19

Quote from: headingnorth on April 30, 2025, 02:23:22 AM

Oh wow that is big!

SPAR is all over Europe, I have been there myself in Italy, Croatia and Austria. It's basically one of the big names after Lidl and Aldi. That is going to have a substantial impact on the growth of Bitcoin price and Lightning Network use.

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nemesis_incarnate

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Re: Grocery giant SPAR accepting Bitcoin payments via lightning network

April 30, 2025, 10:24:13 AM

#20

Quote from: aoluain on April 30, 2025, 09:53:48 AM

We will see about that, but I hope to see the results of such an endeavor going forward - sure thing, it's a small step, but we do need such steps to grow bigger Cool

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