Buying Coffee With Bitcoin In Mexico Through Bitso

Raising Bitcoin awareness can be achieved in numerous ways, but one of the easiest methods is by allowing everyday consumers to spend Bitcoin on regular purchases.  This may be easier said than done, but having the option to pay for your coffee in Bitcoin is a large step in the right direction.  Café Punta del Cielo, a Mexican coffee shop chain, has begun experimenting with Bitcoin payments.

Small Purchases And Bitcoin Payments Mix WellBitso

A lot of people see Bitcoin as the perfect vehicle to move large sums of value all around the world in a matter of seconds while paying minimal fees.  While there is some merit to this statement, it is equally important to keep in mind Bitcoin works well for small payments too.  Purchasing a coffee, for example and paying it in Bitcoin, will be beneficial to both the consumer and the merchant.

To this date, there are very few opportunities to spend Bitcoin for everyday purchases such as coffee.  Fold, one of the Bitcoin startups getting a lot of attention in recent months, allows users to spend Bitcoin at Starbucks wherever USD denominated payments are accepted.  The best part of this experience comes in the form of a 20% discount for customers, making the whole experience even more appealing.

Over in Mexico, one of the country’s largest coffee shop chains has started experimenting with in-store Bitcoin payments.  Café Punta del Cielo received so many customer requests regarding Bitcoin payments that they saw no other option than giving this new form of electronic payment a try.  At the time of publication, the coffee shop at Universidad de las Américas Puebla is the only location where Bitcoin payments are accepted [for now].

Accepting Bitcoin payments is next to impossible without signing up for a payment processor, or partnering with a company offering a similar service.  In the case of Café Punta del Cielo, Bitcoin payments are accepted through Mexican Bitcoin exchange Bitso.  This partnership marks an important milestone for BitsoPagos and their BitsoPay feature, as this Bitso-based merchant service business only launched in February of this year.

“It was a pleasant surprise to hear from Punta del Cielo’s supervisor many students had been asking about bitcoin and bitcoin payments.  “We had placed a ‘bitcoin accepted here’ stamp days before the integration.  We expected this successful BitsoPagos integration to create the traction for more Punta del Cielo and many other merchants to adopt Bitcoin.” – Bitso VP of payments José Rodriguez told DigitalMoneyTimes.

Targeting Students To Push Bitcoin Awareness

Targeting students to raise Bitcoin awareness in Mexico, could prove to be a smart business decision by all parties involved.  Students all around the world are growing accustomed to cashless transactions and with a severe lack of access to financial services in most of Mexico, Bitcoin payments could be the answer to a whole list of potential problems.

Should the decision by Café Punta del Cielo to accept Bitcoin payments at the Universidad de las Américas Puebla prove to be a success, the future for Bitcoin in Mexico might become a whole lot brighter.  According to Bitso, the company is planning to enable Bitcoin payments at all of the chain’s physical locations in Mexico.

The major difference between the efforts by Fold and Bitso comes in the form of not requiring the usage of a special application to make in-store Bitcoin payments.  From the information we have received, customers can spend Bitcoins directly from their mobile wallet by scanning a QR code at the counter.

Source: Press Release via Email

Images courtesy of BitSo, Café Punta del Cielo, Shutterstock