Steak n’ Shake Reports 50% Reduction in Processing Fees with Bitcoin Payments
Steak n’ Shake has been accepting bitcoin payments for two weeks, reporting positive outcomes for both the company and customers. Key points include:
- Bitcoin payments are faster and cheaper than credit card transactions.
- The company saves about 50% in processing fees with bitcoin.
- On May 16, when they started accepting bitcoin, one in every 500 global bitcoin transactions occurred at Steak n’ Shake.
- Customers can pay with bitcoin alongside cash and credit cards, positioning it as a mainstream payment option.
- Franchisees can also purchase franchises using bitcoin.
- The company is exploring further technological innovations like robo-taxis and drones.