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1st Energy has become Australia’s first power retailer to accept cryptocurrency for bill payments, announcing a new partnership with the world’s largest crypto merchant.
From March 4, customers will be able to pay their electricity bills by selecting a variety of cryptocurrencies offered by BitPay – a US-founded platform that provides services for companies like Microsoft and AT&T.
The Aussie-owned energy provider stated the process is ‘smooth and secure’, and there are no fees or charges for crypto payments.
More Australians are using this form of digital currency and are looking for payment alternatives, 1st Energy representative Felix Baillie said.
“As a smaller retailer, we are all about choice, and part of that is giving customers the option to pay the way they want,” he said.
How do 1st Energy customers pay with cryptocurrency?
Customers will see a QR code with the amount of their chosen crypto needed to make a bill payment. The price will be locked in for 15 minutes allowing the customer enough time to make a transaction. Bill-payers can choose from the following 13 cryptocurrencies:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Litecoin (LTC)
- Shiba Inu (SHIB)
- Wrapped Bitcoin (WBTC)
- XRP (XRP)
- Five USD-pegged stable coins – BUSD, DAI, GUSD, USDC and USDP
“Cryptocurrency is going mainstream and there are millions of consumers who want to pay for everyday items like energy services and 1st Energy is taking the lead across Australia to make that available,” said Merrick Theobald, Vice President of Marketing for BitPay.
Where does 1st Energy operate?
1st Energy is an electricity retailer that operates in New South Wales, Victoria, South East Queensland, South Australia and Tasmania. At the time of publication, 1st Energy is competitively-priced in Victoria where the power company is based, and offers some value across the other states in the form of a conditional discount.
Image credit: Lemberg Vector studio/Shutterstock.com
