AXA Switzerland Starts Accepting Bitcoin for Payments

Fazzaco learned that AXA Switzerland, a leading provider in the insurance market, announced today that it will accept Bitcoin​ (BTC) for payments.

According to the official announcement, private customers of AXA can now pay their bills with Bitcoin. To start with, premiums for all non-life products of AXA Insurance Ltd. can be paid easily with Bitcoin. All the customers need is the reference number, the amount, and a Bitcoin wallet. 

"In future, the new payment option will appear on bills sent by e-mail. Customers who wish to pay with Bitcoin can simply go online to invoice.inapay.ch/axa to make the transfer by entering the reference number and amount and then confirming their entry," the Swiss company stated in the announcement.

Head of Open Innovation at AXA Switzerland, Claudia Bienentreu, said: "This is AXA's response to growing demand from its customers for alternative payment solutions, with new technologies playing an ever-greater role."

AXA is working on a number of blockchain-related projects. It joined the cardossier association back in 2017 and is represented on its Board. The association, which also has importers and driver and vehicle licensing offices among its members, has developed a platform that uses blockchain technology to track a vehicle's entire life cycle with a view to making the market more transparent and more efficient.

AXA Switzerland also sponsors the University of Basel's Blockchain Challenge, working with students to investigate how a traditional insurer can tap into the growing market for smart contracts.