Quiznos customers will soon be able to purchase their toasted subs through Bitcoin payments.
Quiznos fast-food restaurant company has announced that it will accept Bitcoin payments in its number of select restaurants in Denver, Colorado, starting in mid-August.
Quiznos Sub Sandwich Restaurants are the home of the toasted sandwich lunch foods, including soups, salads, subs, box lunches, sandwiches, and other catering services. The American franchised fast-food restaurant brand collaborates with Bakkt digital asset firm to enable such payments at some locations. Therefore, this move is set to make Quiznos one of the largest restaurant firms in the United States to accept cryptocurrency.
Customers will be able to purchase Bitcoins with the Bakkt app and then use it to pay for their food at seven Quiznos in the Denver area starting from this month, including the chain’s high-traffic locations at the Denver International Airport. Quiznos said that if the initial test goes well, it will expand the partnership with Bakkt to more of its 255 locations in the US.
Mark Lohmann, president of Quiznos owner Rego Restaurant Group said:
“Partnering with an innovative platform such as Bakkt is appealing to us for several reasons, primarily because it allows us to accept bitcoin directly at the point of sale as part of a quick and seamless transaction,”
The crypto test is another step in Quiznos’ efforts to enhance its business operations. In May, Quiznos stated that it would try out ghost kitchens through a partnership with Ghost Kitchen brands to bring it to 100 locations in the US and Canada this year. Now the restaurant is trying out a new form of crypto payment.
Crypto Gaining Traction in Food Sector
The slow economic recovery means that investors are looking for alternatives. The growth of crypto assets has been significant, especially in a post-COVID1-19 environment where consumers seek more contactless options.
About 36% of small-medium businesses in the United States accept Bitcoin. A rising number of investors have also backed cryptocurrency as an alternative to other assets.
More firms like Overstock, Microsoft, Whole Foods, Home Depot, and others have begun accepting Bitcoin. In October 2020, PayPal enabled crypto exchanges on its platform of about 350 million users, indicating Bitcoin’s continued move into the mainstream.
Diner demand for contactless experience is significant. Currently, about 51% of US citizens prefer touchless technology amid the COVID-19 pandemic, and the trend is rising, with 80% of the order, checkout, and payment services projected to be contactless by 2024.
Quiznos has joined the growing number of restaurants accepting crypto payments in global markets, including Burger King, Subway, Starbucks, KFC, and Pizza Hut.
On August 2, big tech supplier NCR announced its plans to acquire LibertyX, which allows restaurants to accept cryptocurrency payments and sell and purchase coins.
In April, Landry’s restaurant brands announced that it would accept Bitcoin payments in the coming months, describing the move as an “inevitable” step in mainstreaming crypto assets.
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