Carlos Pires, of the Port Royal in Exeter, Devon, first introduced the virtual currency in February, following requests from a group of ‘Bitcoin experts’ who meet in his pub every Tuesday, but received his first digital payment from a customer outside of the club on Wednesday (25 June).
He said receiving the currency is a cheaper alternative to credit card payments. Instead of using a card reader machine, customers scan the QR code from the till receipt onto a Bitcoin app on their phones.
Pires said: “I had already read extensively about Bitcoin and followed updates with interest, but not particularly with the business in mind.
“Then the group asked if I would be willing to accept the currency and helped me set up an app on my phone.”
He added: “It’s no different from a credit card payment but the costs are considerably less. I wait until the exchange rates are favourable before converting back into pounds, so I make a profit.”
Stephen Early, who runs five pubs across the country including the Pembury Tavern in east London, was the first UK publican to accept the virtual currency in June last year.
June 27, 2014 at 02:31AM
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