Singapore’s Kopitiam Foodcourts Chain Pilots Cryptocurrency Payment

KOPITIAM foodcourts, a mainstay in many Singapore malls, now feature self-service kiosks that accept numerous payment methods, including cryptocurrency. The support was announced earlier this summer. The payment system named KOPItech accepts three cryptocurrencies: bitcoin, Ethereum, and creatanium.

The system includes 20 self-service kiosks and cost Kopitiam around S$500,000 (USD $370k) to develop in-house, CEO Alden Tan shared to Business Telegraph in an interview.

The decision to support cryptocurrencies has been brewing for the past 3 years and stemmed from a desire to target a growing number of tech-savvy customers. “This group of customers may grow in the future, so this is what we want to attract,” Mr. Tan said.

The shopping is easy in Kopitiam’s foodcourts, as there are no long lines even during the busiest hours. Customers order food and make payment at centralized kiosks or via the Facebook Messenger app using Quick Response (QR) codes located on each table. Then diners only need to look out for their numbers on LCD screens located around the foodcourt to know when their food is ready for pick-up.

With the self-service kiosks, stall staff “can concentrate on doing their best, which is cooking and serving, and leave the chore of taking orders and changing money to the machine.”

Kopitiam also plans to incentivize customers to adopt this new payment method by offering discounts on meals purchased using KOPItech system.

The company is testing the KOPItech system first in its Funan mall outlet. “If these initiatives are successful, they could be rolled out at other malls in Singapore where Kopitiam and FairPrice are co-located,” Mr. Tan said.

More specifically, Kopitiam will consider rolling out its system to its other outlets with the cryptocurrency option included.

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