New Jersey Restaurant Allows Customers to Pay In Bitcoin
The use of cryptocurrencies to pay for meals at cafés and restaurants is not a new idea as illustrated a decade ago when someone used 10,000 bitcoins to purchase a pizza.
The trend has been replicated in many locations around the world, with an Italian restaurant in New Jersey adding to that number by allowing customers to enjoy services and pay using Bitcoin (BTC) and Litecoin (LTC).
Located in Pompton Lakes, Monica’s Restaurant began accepting Bitcoin and Litecoin as a move to attract a younger clientele, who are believed to be more tech-savvy and at home with the technology behind cryptocurrencies.
The eatery, which serves Italian cuisine, stated in a statement to local media that users could simply make payments by scanning a QR code. The restaurant then gets its money in the form of crypto sent to its wallet.
Monica’s Restaurant uses the services of a payment processor based in New Milford called Nationwide Merchant Solutions. According to the startup’s VP Jon Moore, the eatery receives an instant notification once a customer makes payment by scanning a QR code.
Atila Ajdinovski, who owns the restaurant, said that accepting crypto payments was going to open up his business to a whole new market. He added that using crypto held a number of advantages over traditional payment methods like credit cards or cash.
For example, the restaurant’s management gets to immediately know what a customer has paid, including any tips. Additionally, customers are spared the use of receipts which require signing.
Jon Moore noted in a tweet on October 16, 2018, that the move by Monica’s Restaurant would help Litecoin’s #PayWithLitecoin campaign that saw hundreds of merchants begin to accept the crypto.
At the time, Moore explained that Nationwide Merchant Solutions had helped over 20 local businesses to start accepting cryptocurrency payments. He added that the plan was for them to help another 50 or so to embrace the digital currency trend, including working with some Delis and Sushi providers.
Mainstream adoption of crypto for payments and other everyday usage has been said to be possible only when the common person understands how cryptocurrencies work. Perhaps that explains why promoters of bitcoin payments like Moore have also undertaken to teach locals about buying and spending cryptocurrencies.
Some argue that only when local employers begin paying employees in crypto will its usage as a payment method become a global norm. Even then, steps like the one taken by Monica’s Restaurant could be instrumental in the race to merchant adoption.