Tyrepower owner Richard Wilson says that an increasing number of customers are opting for digital currency during the COVID-19 lockdown in Perth
Dozens of West Australian businesses are now offering to accept payment via Qoin, a new Australian based digital currency. The latest to come on board is one of Perth’s largest tyre retailers.
Richard’s Tyrepower, which operates three tyre stores at Osborne Park, Claremont and Belmont in Perth, has introduced the Qoin digital currency to meet demands from customers who want to “go digital”.
Owner of all three stores, Richard Wilson said that increasing numbers of customers had enquired about digital currency during the COVID-19 lockdown in Perth which saw many businesses decline cash or partially shun cash payments.
“We are like any business. We have to move with the times, and we have to find new ways to meet customer demands. There are hundreds of digital currencies around the world, but very few that are based in Australia and that have already attracted thousands of Australian businesses,” says Mr Wilson.
“I did my homework and I believe Qoin is the right fit for my business, especially because it is Australian based and back by experienced Australian businesspeople.”
One of the Qoin retailer success stories in Western Australia is Tony Smales of Smales Jewellers, which has been in operation for 83 years and joined Qoin in June of this year.
The state’s largest independently owned jewellery business, Smales Jewellers has introduced Qoin at its Bunbury store and customers can now use Qoin to purchase high end jewellery, watches, rings and diamonds.
“With coronavirus restrictions easing, we’re seeing consumers leaving their homes and heading back to local businesses. The small business merchants taking up Qoin are ready for this groundswell of new and returning customers”
Due to the exceptional growth of Qoin, Smales Jewellers has seen the value of their transactions effectively triple in terms of cash value.
“My staff tell me that a number of customers have asked us, especially during COVID-19, about whether we offered a digital currency in place of cash,” says Mr Wilson. “It got me thinking and Qoin approached me at exactly the right time. We are going to giving this a red-hot crack and the Qoin team have been good to their word in giving us their support.”
Over the space of six months more than 7,000 small business merchants, including many in Perth, are now accepting Qoin, the newest digital currency built on blockchain that offers cashless transactions.
And now Perth is being specifically approached following research undertaken by Qoin that shows Perth businesses and merchants are keen to get involved in digital currencies.
Qoin Australia Chief Marketing Officer Andrew Barker says, “We have done our homework in Perth and we have a dedicated sales team of independent agents that are in contact with Perth businesses. The current economic climate off the back of COVID-19 has encouraged many businesspeople to open their eyes to new ways of doing business and that includes digital currency.”
Mr Barker says the time is ripe for digital currencies, like Qoin, as coronavirus has paved the way for small businesses to consider digital currencies to attract new customers and facilitate instore transactions.
“With coronavirus restrictions easing, we’re seeing consumers leaving their homes and heading back to local businesses. The small business merchants taking up Qoin are ready for this groundswell of new and returning customers.”