Dubai Pizzeria Becomes First Merchant In The UAE To Accept Bitcoin

A restaurant in Dubai became the first in the United Arab Emirates to accept payments in Bitcoin.

The restaurant’s owners, Amber Haque and Rami Badawi told several news outlets that they decided to take this step to give customers more payment options, save on card fees and venture into something new and exciting. Haque remarked:
 

“We have been reading and thinking about bitcoin for some time. However, we decided to accept it as a form of payment for our business primarily because we believe in it. We want to participate and lend support to the movement.”
 

“For the restaurant, there are two main advantages,” she continued.

“First, we are casting a wider net in terms of accepted forms of payment. Second, 20% to 30% of our revenue comes from credit card sales and carry a transaction cost of 2.25%. As our business grows, that 2.25% will become more significant to our bottom line.”

“Dubai is a city full of tourists, and for them, it is an even bigger advantage. They can pay in bitcoin without having to shoulder the associated foreign exchange fees.”
 

“We had no way of anticipating the response and interest this story has generated. We knew we were the first in the UAE – restaurant or otherwise – to accept bitcoin. We still have a hunch that we are the first in the Middle East.”

“We believe bitcoin can take off in the Middle East, but like all decisions, this one will either blow up in our face or be the most forward thinking.”

A week after the announcement, the restaurant has had three bitcoin transactions. However, among those who know about bitcoin, or even trade in it, “the response has been nothing short of triumphant”, said Haque.

She added: “In fact, this Thursday, a local bitcoin group will be having their meetup at The Pizza Guys.”