French tobacconists once again sell Bitcoin coupons

French convenience stores can once again sell coupons that can be redeemed for Bitcoin, according to French news outlet BFM Tech yesterday. Crypto fintech company Keplerk previously offered the service in January 2019, but the service was suspended after less than two months, on February 27. 

With the service, which started up again yesterday, customers can buy redeemable tokens for 50, 100, or 250 euros worth of Bitcoin, which can be obtained using Kaplerk’s own electronic wallet. 

“Tobacco shop owners are the best channel as they are trusted by customers and they are used to sell vouchers such as credit for mobile phones,” Adil Zakhar, Keplerk’s director for strategy and development, told Reuters last year.

The service was stopped because transaction times took too long. "It took some people up to eight hours to receive their bitcoins on their digital wallets," Adil Zakhar, CEO of the company, told BFM Tech. Now, transaction times are much shorter, and transactions are cheaper, too—for coupons of 250 euros, transaction times have lowered from 7 percent to 5 percent.

But sales weren’t too hot, either: an internal source said told French news outlet Capital that it only brought in between 2,5000 to 3,500 a week from around sixty tobacconists. By comparison, French fintech firm Digycode launched a Bitcoin sales service back in 2017, and has since signed up with 10,000 partners, reportedly raking in 200,000 to 300,000 euros per month.