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Wednesday, Oct 05, 2022

Sheetz to start accepting Bitcoin, other cryptocurrencies

Sheetz to start accepting Bitcoin, other cryptocurrencies

The regional convenience store will use digital payment platform Flexa to allow customers to make crypto payments

Sheetz will start accepting cryptocurrencies like Bitcoin as payment later this summer, the company announced Tuesday.

The popular convenience store will use digital payment platform Flexa to allow customers to purchase store items or fill up their gas tanks using cryptocurrencies including Bitcoin, Ether, Litecoin, Dogecoin and others, according to a press release.

"Above all else, our mission at Sheetz is to continue providing our customers with the ultimate one-stop-shop where they can refuel their car and refresh their body," Sheetz Payments Manager Linda Smith said in a Tuesday statement. "As a result, we are constantly innovating and exploring new offerings to truly give our customers what they want, when they want it, 24/7/365 — that includes accepting many forms of payment."

Smith added that Sheetz is "excited" to partner with Flexa to support crypto and "other types of digital assets" at its 622 locations.

Customers will also soon be able to link their Sheetz rewards accounts to their Flexa accounts.

"With interest in digital currencies reaching all-time highs, it’s easy to lose sight of the fact that there are real, tangible benefits for the merchants who accept them—not only reduced fraud and cost savings, but also a better and more mobile customer experience," Flexa co-founder Trevor Filter said in a statement. "Sheetz is one of the most forward-thinking brands in the business and understands their customer base better than anyone else."

The convenience store company is also working with its technology partner, NCR, to prevent potential fraud.

The news comes as a number of major banks from BNY Melon to Mastercard and companies from Tesla to Taco Bell have decided in recent months to support cryptocurrency investments and payments.

Federal Reserve Chairman Jerome Powell this month floated the possibility that the central bank could create its own digital currency and was looking into ways to tighten regulation. The Internal Revenue Service said cryptocurrency transfers over $10,000 needed to be reported.


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