Bakkt partners with Quiznos to launch pay with bitcoin pilot in-store
By Pavithra R
Bakkt, the digital asset marketplace behind the Bakkt App, has announced partnering with Quiznos, a national quick-service restaurant (QSR), to launch its first physical location pilot enabling Quiznos customers to pay with bitcoin at select locations.
The pilot is made available at select Quiznos locations across the Denver market, including the high-traffic Denver airport location, starting in mid-August.
“This is an exciting tentpole moment for us as we connect the next generation of customer experiences to the digital economy. Through this partnership, we are introducing unique experiences to Quiznos customers by enabling them to take advantage of new ways to interact with digital assets and bringing bitcoin utility to the mainstream consumer market. We will closely watch how this pilot performs, with the potential to expand the partnership to additional Quiznos locations across the country,” said Sheela Zemlin, Chief Revenue Officer at Bakkt.
The initial phase of the rollout will see select Quiznos locations in the Denver market pioneering a new and innovative payment method for customers to purchase their next meal with bitcoin using the Bakkt App. Customers who download the Bakkt App, buy bitcoin and use it to purchase their next Quiznos meal will be rewarded with $15 worth of bitcoin.
Bakkt continues to expand its partner ecosystem to make digital assets as liquid as fiat currency, and the firm continues to find new and innovative ways to establish cryptocurrency as a simple payment option in the daily lives of consumers. Through an alliance with Bakkt, merchants and franchisees will have the opportunity to accept bitcoin payments from consumers while still benefiting from a cash-settled experience.
“Partnering with an innovative platform such as Bakkt is appealing to us for a number of reasons, primarily because it allows us to accept bitcoin directly at the point of sale as part of a quick and seamless transaction. As we continue our digital transformation journey and respond to mobile and millennial consumer demand for alternative and cryptocurrency payment options, we are excited to offer yet another accessible way for customers to buy a meal, in this case, through the Bakkt digital asset wallet,” said Mark Lohmann, President of REGO Restaurant Group, which owns Quiznos and other national QSR chains.
Launched in 2018, Bakkt is leading a new era of financial services innovation, focused on reimagining and unlocking the value of digital assets like rewards and loyalty points, gift cards, and cryptocurrency owned by Intercontinental Exchange (ICE). The company’s goal is to make all digital assets as liquid as any fiat currency.
IBSi Prime News
October 21, 2021
Who are the top 10 most influential FinTech companies in 2021?Read More
- Daily insightful news analysis
- Weekly snapshot of the industry deals, events & insights
- Sectoral deep dives on the hottest FinTech trends
- Exclusive interviews featuring c-level executives shaping the industry
- Profiles of the most influential established and emerging companies in the sector
- Weekly global FinTech use cases
- Chart of the Week curated by the IBSi’s Research Team
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage