Pražská Plynárenská is one of the largest energy suppliers in the Czech Republic, and they’ve announced new plans to begin accepting cryptocurrency from customers as a form of payment. To start with, they’ll accept payments in Bitcoin (BTC).
“In June, we are opening a payment gateway, which will automatically transfer our bitcoin payments into regular currency, so that we don’t have to speculate with cryptocurrency. But if anyone wants to pay in an alternative way, we want to allow them to do that,” said Pavel Janeček, chief executive officer of the Prague-based company.
This is part of the company’s attempt to reach out to younger customers. Recently, the utility company has been attempting to work with YouTubers and other influencers, and the accepting of Bitcoin is large part due to the younger generation in Czech Republic buying everything with their mobile devices.
This isn’t the first time a large company in the country has started accepting cryptocurrency or Bitcoin payments. Last year, the Czech Republic’s largest online retailer (Alza.cz) began accepting Bitcoin payments on their store page, and the number of customers using it has increased. This year, they also began accepting Litecoin (LTC) due to its faster transactions and lower fees.
Other franchises in the country accepting crypto include Subway stores, and cafes in Prague. One, the Paralelni Polis cafe, reportedly is only accepting cryptocurrency as payment.
Despite wider merchant adoption, banks in the country have been fighting against crypto-related transactions, and have implemented strict policies against customers using Bitcoin or other cryptocurrencies.
The general public in the Czech Republic seems to be on board with Bitcoin and other cryptocurrencies, though, as many of them are now preferring to store their funds in cryptocurrency rather than euros or koruna. Many are also buying Bitcoin for investment purposes, rather than acquiring foreign fiat such as US dollars.
