2021-10-29 20:00 |
Bistroo, a peer-to-peer blockchain-based food and beverages market is thrilled to announce that merchants can now accept payment in cryptocurrencies. Other than fiat currency, and the platform’s native $BIST token, payment is now possible with Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Litecoin (LTC), and Bitcoin Cash (BCH). The development makes Bistroo the first food ordering platform in the world to embrace both blockchain and crypto payments.
In May, Bistroo raised over $8 million which has been used to support the BIST payment infrastructure. The platform also partnered with Coinpayments, allowing token holders to make purchases using BIST at any of Coinpayments’ 100,000 merchants present in over 200 countries globally.
To promote its crypto payment options, the platform will temporarily impose a zero-commission policy on all crypto payments. Food merchants get to enjoy higher business returns and consumers get discounted prices. Additional discounts apply when users pay using the platform’s BIST token.
Bas Roos, CEO, and co-founder of Bistroo had the following to say of crypto payments:
“Bistroo is on a mission to set ourselves up on the global stage with our unique business model. The future is moving towards a protocol economy where parties can directly interact with each other, and Bistroo is taking the first steps in that direction, offering a better value proposition for the food ordering platform market. Enabling our users to transact in crypto is an integral part of that journey.”
In recent years, food ordering platforms have mushroomed all over the world, easing access to enjoy meals while at home. However, these platforms have also made sustenance for restaurants difficult. They impose high fees on merchants and have greater control over business data and payouts. They also benefit customer relationships and loyalty more than the actual food merchants. Overall, such a model leads to unreasonable costs for both consumers and restaurants.
Differently, Bistroo’s peer-to-peer marketplace facilitates the connection between food operators and consumers, rather than controlling it. Since its launch in 2020, the platform has given merchants a coverage of 25,000 customers and processed over $2.3M in orders, per a live tracker on its website. Food operators can now control their payments, menu configuration, orders, promotions, and analytics. They also get to transact directly with customers and receive instant payments when orders are placed. Adding cryptocurrencies now gives interested merchants a chance to interact with them and expand their payment scope.
Ultimately, Bistroo aims at becoming a world leader in PaaS e-commerce technology for food shops and restaurants. It also plans on being the portal that directly connects merchants and consumers globally, with full merchant control, instant payouts, and exceptionally low fees. Currently, crypto payments can also be made in the demo store using the testnet.
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