One of WA’s best-known jewellery chains has embarked on the digital currency journey and will now start offering customers and clients the ability to pay using Qoin (pronounced ‘coin’), the newest digital currency which is being taken up by hundreds of merchants in WA.

The state’s largest independently owned jewellery business, Smales, has introduced Qoin at is Bunbury store and customers and clients can now use Qoin to purchase high end jewellery, watches, rings and diamonds from the Smales’ jewellery range.

Smales Jewellery, which started operated in WA 82 years ago, has stores in Bunbury, Perth, Kalgoorlie, Karatha and Geraldton.

Owner Tony Smales says he expects Qoin will be well accepted by jewellery customers. “We are always looking to be innovative and we think that the digital currency tide is here to stay and will continue to grow. Qoin is Australian-based and we take a lot of comfort in that, together with the fact that it can be used easily by our customer base. It is fast, uncomplicated and the people behind it know what they are doing. We are trialling it at our Bunbury store and we believe it will give us an edge.”

Over the space of just two months, around 3,000 small business merchants, including many in WA, are now accepting Qoin the newest digital currency built on blockchain that offers cashless transactions.

Qoin Australia Chief Marketing Officer Andrew Barker says Qoin is fast growing in popularity amongst Australian small businesses that are striving to meet consumer demands for safe and reliable alternative payment methods. “We have done our homework in WA and we have a dedicated team of independent agents that are in contact with WA businesses. “The current economic climate off the back of COVID-19 has encouraged many businesspeople to open their eyes to new ways of doing business and that includes digital currency.”

Mr Barker says the time is ripe for digital currencies, like Qoin, as coronavirus has paved the way for small businesses to consider digital currencies to attract new customers and facilitate instore transactions. Mr Barker says, “Before coronavirus, consumers were well accustomed to a smooth online shopping experience that takes them seamlessly to checkout. Now, because of coronavirus, consumers expect the same experience instore. “With coronavirus restrictions easing, we’re seeing consumers leaving their homes and heading back to local businesses. The small business merchants taking up Qoin are ready for this groundswell of new and returning customers.”

Article published in Jewellery World