Croatia’s largest supermarket chain the Konzum retail chain will start accepting crypto payments on their online store starting today. Konzum is the first retail giant in Croatia to start accepting Bitcoin (BTC) and a few other altcoins as a mode of payment. Individuals as well businesses can now buy daily usage groceries and 12,000 products from Konzum online store using cryptocurrencies.
Konzum plans to expand the crypto payment option to its physical retail stores across the country in the coming months. The store says crypto payments will be as seamless as card payments and users can simply select one of the nine crypto payment options and scan the barcode to complete the transactions. Customers can pay in Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), EOS, DAI, XRP, Stellar Lumen (XLM), Tether (USDT), and USDC.
Uros Kalinic, a member of Konzum’s Finance and IT Management Board said,
“The introduction of cryptocurrency payments is another indicator that Konzum is constantly monitoring global trends, introducing innovations, and setting a standard in the retail sector. We continue to invest in the development of innovations and technologies.”
The crypto payments at the retail chain’s online store would be facilitated in association with the domestic fintech company Electrocoin. Electrocoin has developed a new crypto payment processor called PayCeck. The PayCeck system would also eliminate crypto volatility risks and would offer fixed exchange rates to customers at the time of the payment.
Crypto Adoption on the Rise
2021 has proven to be the year of crypto breaking out into the mainstream where crypto firms have attracted $21 billion in funding this year. Apart from crypto companies becoming more mainstream, existing retail and cinema giants have added crypto payments due to growing popularity. Earlier, the largest cinema chain in the US, AMC Theaters introduced a crypto payment option.
El Salvador is another prime example of a successful Bitcoin experiment after becoming a legal tender there. Be it a small cart owner selling fast food or large fast-food chains such as McDonald’s, all accept Bitcoin payment and customers are using the service on a daily basis.
Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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