SweePay and SMART VALOR Brings Crypto to Masses at National Railways, Retailersby Fintechnews Switzerland April 19, 2023
The Swiss crypto exchange SMART VALOR and the financial intermediary SweePay has partnered to ensure that the purchase of cryptocurrencies at Swiss Federal Railways (SBB) ticket machines is simple, smooth and secure.
Since 2016, it has been possible to buy crypto at the 1,500 (expected number of ticket machines as of 2023) ticket machines of the SBB.
At the SBB ticket machines, users will receive their Bitcoin in a secure paper wallet when they buy the crypto. They will need to enter the desired amount (between CHF 20 and CHF 500), input their mobile phone number and confirm the TAN sent to the machine. The machine then prints out the paper wallet with the crypto amount purchased.
Additionally, SMART VALOR and SweePay have also enabled the purchase of crypto at Valora Holding’s sales outlets throughout Switzerland at the k kiosk, avec, and Press & Books.
However, the process is quite different at the Valora points of sale as the customer has to buy a Start2Coin card from SweePay. This is a rechargeable card with an NFC memory chip that acts as a crypto wallet. This card costs CHF 29.90 once and can be used as long as desired. The customer presents the card, selects the amount and pays. The card is immediately topped up. If the customer wants to transfer his crypto to another address, he needs an NFC-enabled smartphone and an app from the card manufacturer Tangem.
The initiator of the project was SweePay, while the crypto exchange-technology behind the project comes from SMART VALOR, Switzerland’s only NASDAQ-listed full-service crypto exchange.
Zug’s “Crypto Valley” has developed into a real crypto hotspot in recent years, attracting more and more companies from the crypto sector.
Olga Feldmeier, Co-founder and Chairwoman of SMART VALOR said,
“We are very excited to be working with SweePay. This partnership fits perfectly with our B2B strategy of leveraging the enormous potential of our exchange through a wide range of distribution partners.
Every day, up to 1.25 million people travel on SBB trains and buy coffee or newspapers at Valora outlets.”
Rodolphe Texier, Co-founder and CEO of SweePay said,
“SMART VALOR is a competent, efficient and fast partner. They will be able to support our Swiss and European strategy.
The cooperation has worked very well from the first minute and we are convinced that we have found the right partner for our roadmap”.