Call for Bury St Edmunds businesses to adopt bitcoin as Procopio's Pantry sees digital currency success

A Bury St Edmunds restaurant which now allows customers to pay using digital currency is calling for other businesses to do the same and make the town a ‘bitcoin destination’.

Procopio’s Pantry, in Langton Place, has seen a flurry of customers paying with bitcoin instead of using traditional cash or debit cards since owner Peter Procopio introduced it following discussions with a regular customer and bitcoin advocate.

Peter said: “I didn’t fully understand how it worked and I was a bit reluctant, however after a sit down meeting with Jason, of Suffolk Bitcoin, he showed me an app called CoinCorner. He explained I could set up a process in the app that meant once I started receiving bitcoin I could immediately sell it for the cash alternative.

“The CoinCorner app requires full bank checks and verification which helped put my mind at ease. Although I still don’t fully understand bitcoin, I can accept it as a payment and receive cash instantly.”

Peter said when customers wished to pay using bitcoin he could open the CoinCorner app and create an invoice showing the amount in pounds and pence and ‘sats' (the equivalent of pence for the pound). This then creates a QR code for the customer to scan using their bitcoin wallet. A green tick on Peter’s CoinCorner app confirms when payment has been processed.

He added: “We have now increased our customer base and over the last weekend we had around five tables wanting to pay in bitcoin. It is only going to increase as word spreads and people who want to spend bitcoin learn that we are only the second place in Bury to accept it.

“I think it would be good for other businesses to start accepting bitcoin. With the CoinCorner app I am essentially taking a card payment. It’s just as fast and the cost is very similar, so why wouldn’t you do it?”

Mark Cordell, chief executive of business improvement district organisation Our Bury St Edmunds, said he would be circulating details of bitcoin payments to members in the hope others might also offer it in the future.

“I think – like most people – my knowledge of crypto currencies is very limited, but I can see some benefits for our members to consider accepting bitcoin,” said Mark.

“I am also interested in the phenomena of ‘crypto tourism’ and would love to see Bury as part of this new opportunity, providing yet another reason for visiting our town.

“I am delighted Peter took the step to accept bitcoin and has found it to be quite straightforward so far.”

Jason, of Suffolk Bitcoin, said businesses offering bitcoin payments could attract extra customers.

“Bitcoiners love it when a new business offers bitcoin as a payment method, so much so they will post about it on social media and go out of their way to visit the business,” said Jason.

“There is a growing community willing to travel to places solely because of the fact you can pay in bitcoin. Bury could be one of the first places in the UK to integrate bitcoin payments en masse and tap in to this new demographic,” said Jason.

“There is a very real opportunity here for Bury to lead the way in this new kind of tourism and attract people to Suffolk.”

There are currently seven businesses in Suffolk accepting bitcoin.

Jason is encouraging any interested businesses to contact him via Twitter – @SuffolkBitcoin – or go to a monthly meet-up at Procopio’s Pantry on March 26, from 11am.