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.