The largest food retailer in Croatia launches cryptocurrency payments

Wed 01 Dec 2021 ▪ 22h24 ▪ 2 min read — by Katie Donaldson

Cryptocurrencies have transformed virtually every corporation in 2021. Croatia’s largest food retail Konzum was no exception. The company has just announced that it now accepts cryptocurrencies for payment in its online store.

According to the official statement, there are nine options to choose from: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS (EOS), Dai (DAI), Ripple (XRP), Stellar (XLM), Tether (USDT), and the USD coin (USDC).

Popularisation of cryptocurrency payments

Konzum became the first food retailer in Croatia to start offering crypto services. Croatians will be able to purchase more than 12,000 products with cryptocurrencies, thanks to a partnership with a local crypto payment processor, Electrocoin.

Cooperation between the two firms allowed Konzum to implement PayCek, a crypto payment system, into the company’s structure. PayCek fixes the exchange rate at the start of the transaction, giving customers time to successfully finish their purchase. The system provides a QR code for the customer to scan and pay using their crypto wallet of choice. 

“As the largest retail chain in Croatia, which in its history of almost 65 years is a continuous leader in the domestic market in terms of business results and technological achievements, we are proud to be leaders in another area that is rapidly developing and forming the future,” Konzum board member Uroš Kalinić commented on the news.

The official announcement also notes that the company will enable the new payment option in its physical stores soon. Konzum runs over 700 stores in Croatia.

“We continue to invest in the development of innovations and technologies in order to remain the first choice for our customers and as a next-generation retail chain to provide a premium shopping experience,” Kalinić added.
Croatia’s Konzum, the largest supermarket chain in the country, now provides a cryptocurrency payments option to customers at its online store.

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Katie Donaldson

I went full time crypto back in June 2018, and have never looked back. I want to help persuade as many people as possible to come and build the decentralised future! Let’s go!

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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