First US Convenience Store Chain to Begin Accepting Cryptocurrency as Payments

Mid-Atlantic convenience store chain Sheetz will partner with digital payment network Flexa to become the first convenience chain in the U.S. to offer cryptocurrency as a payment option.

In a Thursday press release, Flexa said Sheetz would begin accepting major cryptocurrencies such as bitcoin, ether, litecoin, dogecoin and others to pay for goods inside the stores and for gas at the fuel pumps.

"We're proud to be a partner and provide more payment optionz! [sic]" Sheetz said on Twitter.

We're proud to be a partner and provide more payment optionz! 🤘💲 https://t.co/VxvnEJXuGW

— SHEETZ (@sheetz) May 27, 2021

Flexa has partnered with several other retailers, including Home Depot and Whole Foods, to offer digital currency transactions at checkout, converting cryptocurrency into U.S. currency in real time, Chain Store Age reported.

Linda Smith, payments manager for Sheetz, explained the decision for the company to begin working with Flexa to provide new payment options for their customers.

"We are constantly innovating and exploring new offerings—that includes accepting many forms of payment," Smith said, in part, in a release. "We're very excited to be working with Flexa to roll out support for cryptocurrencies and other types of digital assets at our stores."

When paying with Flexa-enabled apps, Sheetz customers will have the option to link their My Sheetz Rewardz loyalty account, the press release said.

"We're absolutely elated that Flexa can help them [Sheetz] become the first convenience and retail chain to accept digital currencies directly at the pump," said Trevor Filter, co-founder of Flexa.

In order to make the switch to processing digital payments alongside regular payment options, Sheetz partnered with their point-of-sale technology provider, National Cash Register Company (NCR). Tim Vanderham, chief technology officer at NCR, described the benefits of Sheetz adding cryptocurrency payment options in the release.

"Retailers benefit through increased loyalty, lower transaction fees, and reduced fraud while improving convenience and choice for shoppers," Vanderham said.

Sheetz currently operates 622 stores in Pennsylvania, North Carolina, Virginia, West Virginia, Ohio and Maryland.

The program is expected to roll out this summer, with payment options first available in store and programs to pay at fuel pumps rolled out later this year.

Bitcoin physical currency
Mid-Atlantic convenience store chain Sheetz will partner with digital payment network Flexa to become the first convenience chain in the U.S. to offer cryptocurrency as a payment option. Martin Bureau/AFP via Getty Images