Bitcoin’s global phenomena has hit Dubai. The Pizza Guys have become the first restaurant in the United Arab Emirates to accept payments in the digital currency.
The restaurant’s owners, Amber Haque and Rami Badawi told several news medias that they decided to take this step to give customers more payment options, save on some fees and venture into something new and exciting.
“We have been reading and thinking about bitcoin for some time,” said Haque.“However, we decided to accept it as a form of payment for our business primarily because we believe in it. We want to participate and lend support to the movement.”
“For the restaurant, there are two main advantages,” she continued. “First, we are casting a wider net in terms of accepted forms of payment. Second, 20% to 30% of our revenue comes from credit card sales and carry a transaction cost of 2.25%. As our business grows, that 2.25% will become more significant to our bottom line.”
“Dubai is a city full of tourists, and for them, it is an even bigger advantage. They can pay in bitcoin without having to shoulder the associated foreign exchange fees.”
It’s been also reported that since the announcement last week, the restaurant has had three bitcoin transactions.
