Major American grocery chain Kroger recently banned Visa from a regional supermarket protesting against the payment processor's "exaggerated transaction fee" and announced that hundreds of stores and service stations would stop Visa payments in April. The story, however, has taken a surprising turn, with Kroger representatives referring to reviewing Bitcoins Lightning Network as a potential alternative payment system.
Morgan Creek: Kroger should replace Visa with Bitcoin
Morgan Creek Digital partner, Bitcoin evangelist, and popular podcast host Anthony Pompliano made the ball roll when he said his team was willing to fly to meet Kroger leaders to discuss the use of Lightning Network-enabled Bitcoin as a low-cost alternative to Visa.
Who knows someone in the management team there?
Morgan Creek Digital Team flies to meet them and get them connected to Lightning Network nationwide.
̵1; Pomp 🌪 (@APompliano) March 2, 2019
Then Pompliano updated his nearly 200,000 Twitter followers March 3, and revealed that he had personally spoken to a Kroger Digital representative to help the grocery trade  Kroger adds credit card cartel on notice
On March 1, Kroger stated that 142 supermarkets and 108 gas stations would stop accepting Visa by April 3 to maintain low customer prices. Visa is by far the world's largest credit card issuer with 323 million users compared to 191 million Mastercard users, making the ban a bold move on Kroger.
The monopoly that Visa has had may have made it possible to inflate taxes beyond market expectations. In this case, this is due to the feeling that chains are essentially obliged to serve Visa users or risk losing their business.
However, Kroger says no to high fees and drawing a line in the sand, fee options like Bitcoin Lightning Network payments to state their case. As a leading traditional grocery retailer in the country, the move can embrace other disgruntled companies that come along.
Kroger discusses Bitcoin Integration
Kroger allegedly considers Bitcoin as a payment option, with Anthony Pompliano updating Twitter followers yesterday saying he had spoken personally to Kroger Digital representatives. He added that it looked like "things are moving forward," praising the great retailer's forward-looking mentality.
Just finish the first conversation with someone at Kroger Digital team.
World class, forward-looking crew. 19659005] It seems that things are evolving.
Stay tuned 🙏🏽
– Pomp (@APompliano) March 3, 2019
Of course, the approval of Bitcoin among hundreds of supermarkets and fuel centers would be great for the cryptocurrency industry.
The decision has been on a steady upward trend regardless of volatile or negative price action seen in the past year, and with more and more press coverage and real-world use cases for cryptocurrency seen in the public eye, basics of cryptocurrency technology are better than ever before.
The move can expose millions of people to Bitcoin in the context of a fast and affordable payment solution for groceries and services that transforms the perception of some spectators that Bitcoin is just a speculative resource.
Currently, the calls are preliminary at best. Regardless of the outcome, it appears that encryption of cryptocurrency as an alternative to the ever-dated services of companies like Visa is inevitable.
Currently, as Morgan Creek Digital's Anthony Pompliano suggests, all that remains is to "stay tuned" and see when the situation unfolds.