Insurance Giant AXA Allows Swiss Clients to Pay for Services With Bitcoin

By Jamie Redman

The French multinational insurance firm AXA is now allowing clients in Switzerland to pay for services in bitcoin. The newly added support is part of the company’s “digital future” and stems from customer demand for crypto payments.

AXA Supports Bitcoin Payments In Switzerland

AXA has announced it is the first all-lines insurer in the country of Switzerland to accept bitcoin (BTC) for bill payments. At the end of 2019, AXA conducted a study and asked people 18 to 55 about what they thought about cryptocurrencies. The study had shown that many respondents already held digital currencies and others were also very interested. Covid-19 has accelerated this demand and interest, AXA notes in its announcement and therefore it is now “allowing its customers to pay their bills with bitcoin.”

Soon, AXA customers will see a new payment option on bills sent by email and via invoice.inapay.ch/axa as well. Payments in bitcoin (BTC) can then be completed on a desktop computer or smartphone. “Customers who receive their bills by post or directly on Myaxa can of course also use this new option to pay their premiums,” the company’s announcement further notes.

AXA Switzerland’s Head of Innovation: ‘New Technologies Are Playing an Ever Greater Role’

“This is AXA’s response to growing demand from its customers for alternative payment solutions, with new technologies playing an ever greater role,” the head of open innovation at AXA Switzerland Claudia Bienentreu said in the press release. Even though the company is accepting BTC, it does not plan to keep the leading digital assets. “The bitcoins go to the crypto broker Bitcoin Suisse, which converts them into Swiss francs. AXA holds no bitcoins on its balance sheet,” the company’s FAQ section details.

In time, AXA says other payment options like TWINT are coming and set to go live in the near future. “The range of payment options and services that can be used via the web and the Myaxa app will continue to expand going forward,” AXA concludes.

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