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Swiss insurer AXA now accepts Bitcoin as payment
Bitcoin adoption is slowly trickling into several sectors of the global economy. Already, traditional financial institutions are getting into crypto, and Switzerland's largest insurance firm has now started accepting Bitcoin as payment.
AXA now accepts BTC
AXA, Switzerland's largest insurance firm and the second-largest in Europe, has revealed that it now accepts Bitcoin as payment. The company announced earlier today via a press release stating that all private AXA customers can now pay insurance premiums for any non-life insurance products in Bitcoin.AXA is the first all-lines insurer in Switzerland to allow its customers to pay their bills with Bitcoin. This represents an investment in the company's digital future in response to growing customer demand for more choice when it comes to payments," the firm said.
The insurance firm revealed that its decision was based on its 2019 survey, where it asked people aged 18 to 55 for their thoughts on cryptocurrencies. Nearly 40% of them said they already own some or were interested in buying.
AXA added that the Coronavirus pandemic accelerated digital transformation, leading to the spread of cryptocurrencies. To meet the growing demand, the firm is now allowing its customers to pay their bills in BTC.
"AXA is the first all-lines insurer to offer this solution. The new payment option is available to all private customers from the start of April. To start with, premiums for all non-life products of AXA Insurance Ltd. can be paid easily with Bitcoin," AXA added.
AXA wants to make it easy to pay with BTC
The insurance firm assured its customers that it intends to make it easy for them to pay their bills with Bitcoin. "Customers who wish to pay with Bitcoin can simply go online to invoice.inapay.ch/axa to make the transfer by entering the reference number and amount and then confirming their entry," AXA said.AXA further revealed that Bitcoin adoption is the first. The firm intends to accept other cryptocurrencies and implement other payment methods, including TWINT.
Cryptocurrencies are slowly going mainstream, and the number of financial institutions that are now accepting it as a form of payment continues to grow. More financial institutions are expected to adopt Bitcoin and other cryptocurrencies over the coming years.
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