As the trend intensifies, the insurance house added to their tab payment option using bitcoin for their Swiss customers. Every innovation aims to understand and see how life can be made easy for the human race by giving them options of what they can and cannot do. Our esteemed customers will now be able to make payment for all non-life products using Bitcoin from the beginning of April; the insurance house released via their Twitter handle “Axa_Switzerland.” We are the first insurer in the country to make this a possibility; they said.

In the later days of the year 2019, AXA Switzerland made a market feasibility study to which a third of the interviewees showed and approved the use of cryptocurrency. This aided their resolution to design and make Bitcoin payment available for customers. The insurance house concluded and decided to make the option for payment available through their payment provider, Inapay, because of the coronavirus pandemic’s positive effect on the spread of cryptocurrencies usage.

Companies begin to roll out Bitcoin payment option

“Many at times we have latest technologies getting invented and playing significant roles in the human life, introducing this alternative payment idea is our reaction to customers calling for changes and new incentives,” head of open innovation at AXA Switzerland, Claudia Bienentreu, also added in the press release statement.

The option of paying in Bitcoin works so that our customers can easily go to include the reference number visible on their bill and the amount. The sum payable in Swiss francs (CHF) will be transformed into the amount in BTC, and also, there will be a bar exhibiting the validity of the CHF/BTC exchange rate. Every time the bar expires, the price updates itself. The insurer AXA also hinted at their plans to make more alternative payment choices aside from Bitcoin available for use pretty soon.

Tesla is still the biggest entity to enable Bitcoin payment option

Recently, many organizations and companies have been introducing the use of Bitcoin to purchase their products and services, a trend AXA deemed fit to join. Earliest days of the month, Nashville boutique hotel, The Bobby Hotel released a statement that they now accept cryptocurrency as a form of payment, in same vain yesterday, America’s oldest wine shop, Acker, made public that not just for the purchase of their products but also for auction will they accept Bitcoin and other cryptocurrencies.

Tesla, the illustrious and noteworthy Electric Vehicle designer and manufacturer, is the company to have decided to accept Bitcoin payment that is still causing an uproar. Tesla initiated the alternative to pay with Bitcoin for its products and services after buying $1.5 billion shares in Bitcoin for its corporate treasury. While other companies convert the cryptocurrency into fiat at the sales point, Tesla does direct dealings.