Croatia’s Largest Supermarket Chain Begins Accepting Bitcoin and Ripple Payments
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Answer Croatia’s Largest Supermarket Chain Begins Accepting Bitcoin and Ripple Payments
Konzum, the largest supermarket chain in Croatia, will start accepting crypto payments on its online store Starting today.
Konzum is the first retail giant in Croatia to start accepting Bitcoin and a few other digital currencies as payment.
Individuals as well as businesses can now buy groceries for daily use and 12,000 products from Konzum online store using cryptocurrency.
Konzum plans to expand its cryptocurrency payment option to physical retail stores across the country in the coming months.
The store says crypto payments will be as streamlined as credit card payments and users can simply select one of the nine cryptocurrency payment options and scan a barcode to complete transactions.
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The supported cryptocurrencies are as follows:
Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, EOS, DAI, Tether and USDC.
Eros Kalinik, Member of the Board of Directors for Finance and Information Technology at Konzum said:
The introduction of cryptocurrency payments is another indication that Konzum is constantly monitoring global trends, introducing innovations, and setting a benchmark in the retail sector.
We continue to invest in developing innovations and technologies.
The in-store crypto payments will be facilitated jointly by the local fintech company Electrocoin.
Electrocoin has developed a new crypto payment processor called PayCeck.
The PayCeck system will also eliminate the risk of crypto volatility and will offer fixed exchange rates to customers at the time of payment.
Crypto adoption is on the rise.
2021 has proven to be the year of cryptocurrency entering the mainstream as crypto companies have attracted $21 billion in funding this year.
Regardless of which crypto companies are becoming more mainstream, existing retail and movie theater workers have added crypto payments due to the growing popularity.
Earlier, AMC cinemas, which is the largest movie chain in the United States, offered the option of paying in crypto.
Read:A comparison between the Iranian digital currency and the Venezuelan “petro” currency
El Salvador is another prime example of a successful Bitcoin experiment after it became legal tender there.
In El Salvador, whether it’s a small cart owner selling fast food or big fast food chains like McDonald’s, they all accept Bitcoin and customers use the service on a daily basis.
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