Croatia’s Largest Supermarket Chain Rolls Out Bitcoin Payments
December 02 2021 - 12:00PM
NEWSBTC
Bitcoin has spread its wings far and wide and no nation has been
left out. All around the globe, there is bitcoin adoption going on,
both as a payment method as well as an investment option. The
latest company to implement bitcoin as a method is Croatian
supermarket giant, Konzum. The move was announced on Wednesday as
part of the chain’s mission to drive crypto payment adoption across
its stores. Pay For Groceries With Bitcoin In the announcement,
Konzum states that customers are now able to pay across its stores
with bitcoin. Purchases for things like groceries, hygiene and
household supplies, among other products can be checked out from
the Konzum online stores that currently carry more than 12,000
items. Related Reading | MicroStrategy Follows El Salvador’s
Lead As It Buys Bitcoin Dip The retail chain is the largest by far
in Croatia. There are over 700 Konzum stores in the nation with
over 10,000 employees across the chain. Konzum is basically the
Walmart of Croatia as its retail outlets are located throughout the
country. The chain also expands to Serbia and Bosnia and
Herzegovina, serving over 650,000 customers each day. For now,
Konzum customers can only pay with Bitcoin and other
cryptocurrencies in its online stores. However, the supermarket
chain plans to roll out crypto payments across all of its stores.
This move is the first of its kind in Croatia, making Konzum the
first and only retail chain in the country to accept crypto
payments. “The introduction of cryptocurrency payments is another
indicator that Konzum is constantly monitoring global trends,
introducing innovations and setting the standard in the retail
sector.” – Uros Kalinic, member of Konzum’s Management Board for
Finance and IT BTC falls to $56K | Source: BTCUSD on
TradingView.com A Faster And Easier Way To Pay Konzum which plans
to implement crypto payments in its physical stores said that
crypto payments are a simple way to pay. It likened the payment
process to card payments which are a fast and efficient way to pay
for everyday items. Customers will be able to choose Bitcoin and
other cryptocurrencies as a payment method when they proceed to
checkout on the online store. Related Reading | Canada Marks
Launch Of First Bitcoin, Ethereum ETFs With Monthly Payouts Konzum
will use the PayCek system to account for the highly volatile
nature of cryptocurrencies. Although exchange rates may change in a
short time, PayCek will place a fixed exchange rate at the time of
checkout with adequate time to carry out the transaction at the
rate displayed. Currently, Konzum’s online store will accept nine
cryptocurrencies. These include Bitcoin, Ethereum, Bitcoin Cash,
USDC, USDT, EOS DAI, Ripple, and Stellar Lumen. Kalinic also added
that Konzum plans to continue its commitment towards the
development of innovative technology. Featured image from
CloudSavvy IT, chart from TradingView.com
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