The 30,000-member American Nightlife Association (ANA), comprising the bar and nightclub industry in the US, has entered into a strategic partnership with decentralized payment system Paytomat to facilitate digital currency adoption in the industry, they said in a joint statement.
Under the deal, ANA will assist Paytomat in launching its US operations, build a reliable network of multi-venue clients, create new revenue streams, and attract American investors. In addition, ANA will assist in the establishment of network partners, including exchanges, banks, processing companies, and gateways, while building a legal scheme for each of the states that will adopt a payment system for merchants on the fiat settlement account in exchange for payments received in the digital currency.
ANA chief sales and marketing officer Lev Filimonov commented:
"One of the Association's key goals is providing nightlife professionals with trends, tools, resources, and strategies to help them increase performance and revenues. Accepting cryptocurrencies in a business is a competitive advantage and a marketing booster. Among all cryptocurrency payment systems, Paytomat offers the best conditions for merchants to pioneer this new economy.”
He added Paytomat has a proven track record in Europe, with its intuitive and user-friendly solutions that do not require supplementary investment in software and hardware and have zero fees for business.
He said ANA is committed to assisting Paytomat in building the necessary strategies and business models to establish the firm as a major driver of] digital currency adoption for payments in the US.
In the statement, Paytomat said it plans to introduce its elite blockchain-focused loyalty program as one of its major features for the American market. The PTM coin provides incentives to merchants who accept payments in cryptocurrency, while its PTX tokens give incentives to customers that pay using digital currency.
The loyalty program is inherent in the Paytomat Wallet, which also allows participants to get the maximum benefits from various deals and promotions.
"U.S. Bar & Nightclubs are a $783 bln industry, which is now open to cryptocurrencies. Recent surveys show that American businesses are willing to accept Bitcoin as a payment method, and we'll give them an opportunity to accept a much wider variety of cryptos," said Paytomat founder and CEO Yurii Olentir.
He said the company is excited to expand in the US market by with an influential partner like ANA. Olentir is confident the partnership will help implement and develop an efficient strategy to hasten the retailers adoption of digital assets.
A survey by liquidity solutions provider SharesPost found that 72% of cryptocurrency consumers and 59% investors plan to expand their crypto holdings over the next 12 months despite the decline in digital assets value.