Digital Assets: AXA Allows Customers To Pay Bills With Bitcoin

April 15, 2021 | Digital Assets, News

The new payment option will be available from April for all non-life products.

AXA has become the first all-lines insurer in Switzerland to accept payments from customers in bitcoin. The company’s decision stems from a 2019 survey of people between the ages of 18 to 55 and their views on cryptocurrencies. AXA (EPA: CS) found that about a third of respondents already owned them or intended to do so. That trend received a fillip from the digital transformation propelled by the pandemic. (AXA Switzerland)

The decision to accept bitcoin payments, therefore “represents an investment in the company’s digital future,” AXA said in a blog.

AXA and bitcoin payments

Customers who received an AXA bill via email can now pay it using their bitcoin wallet, the reference number of the bill, and the amount.

The amount of bitcoin is remitted to AXA via crypto broker Bitcoin Suisse who converts it back to fiat at the point of transfer. AXA clarifies that it holds no bitcoins on its balance sheet.

Customers entering a bitcoin payment do not face the risk of an exchange rate fluctuation if they complete the transaction within a certain time span.

Also, AXA doesn’t charge any special fees for bitcoin payments. However, the bitcoin exchange rate provided by the broker includes a commission of 1.75% to cover blockchain transaction, currency exchange, and other fees.

“This is AXA’s response to growing demand from its customers for alternative payment solutions, with new technologies playing an ever-greater role,” says Claudia Bienentreu, Head of Open Innovation at AXA Switzerland.


Meanwhile, across the Atlantic, the 200-year old wine shop and auction house Acker revealed that it is now accepting cryptocurrencies for goods and services via payment processor Bitpay.

“Cryptocurrencies are no longer a passing fad, and, as one of the oldest licensed businesses in America, Acker is proud to accept this novel form of payment as we continue to evolve in our third century as a company,” Chairman John Kapon remarked.

Related Story:   Visa Signals Potential ‘Mainstream’ Adoption of Bitcoin

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Venture Capital: Making VC More Inclusive – Google To Invest $40M In Black-Led Startups

Jeremiah Gordon is General Counsel at CapitalG, Alphabet’s (NASDAQ: GOOGL) independent growth fund which has $3 billion under management. He also leads an Alphabet-wide team focused on investing in Black-led…
Digital Assets: Colonial Pipeline Caved; Paid $5M Ransom To Hackers
May 14, 2021     Digital Assets, News

Though initial reports said that Colonial Pipeline would not pay a ransom to the hackers that brought the nation’s largest fuel pipeline to a halt, Bloomberg reported Thursday that the…
Artificial Intelligence: A Molecule For Alzheimer’s Created By Exscientia’s AI Enters Clinical Trials

Oxford, UK-based Exscientia uses AI to design and create drug candidate molecules satisfying complex therapeutic requirements with revolutionary efficiency. Joint research by Exscientia with Sumitomo Dainippon Pharma Co., Ltd. (TYO:…
Venture Capital: Vinted, The Marketplace For Previously Owned Clothing, Raises $303M
May 13, 2021     News, Venture Capital

Vinted, a European startup that runs a marketplace for used clothing and home goods, announced its raise of $303 million at a valuation of $4.5 billion, post-money. That valuation is…