Bitcoin’s wings have expanded far and wide, and no country has been left out. Bitcoin is being used all across the world, both as a payment mechanism and as an investment choice. Konzum, a Croatian supermarket chain, is the most recent to adopt bitcoin as a payment mechanism. The initiative was revealed on Wednesday as part of the chain’s ambition to increase the use of cryptocurrency payments in its locations.
Customers can now pay with bitcoin across Konzum’s locations, according to the release. Konzum online stores, which presently stock over 12,000 items, can be used to make purchases such as food, hygiene and household supplies, and other products.
The retail chain is by far the largest in Croatia. There are around 700 Konzum locations across the country, and the company employs over 10,000 people. Konzum is essentially Croatia’s Walmart, with retail locations all across the nation. The chain now serves approximately 650,000 clients every day in Serbia and Bosnia and Herzegovina.
For the time being, Konzum consumers can only pay in its online stores with Bitcoin and other cryptocurrencies. However, the supermarket chain intends to accept cryptocurrency payments at all of its locations. This is the first of its kind in Croatia, making Konzum the country’s first and only retail chain to accept cryptocurrency purchases.
“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
Crypto payments are an easy method to pay, according to Konzum, which aims to use them in its real stores. It compared the payment method to credit card payments, which are a quick and easy way to pay for ordinary things. When customers proceed to the online store’s checkout, they will be able to select Bitcoin and other cryptocurrencies as a payment method.
To deal with the very volatile nature of cryptocurrencies, Konzum will adopt the PayCek method. Although exchange rates can fluctuate quickly, PayCek will display a set exchange rate at the time of checkout, giving you enough time to complete the transaction at the advertised rate.
Konzum’s online store now accepts nine coins. Bitcoin, Ethereum, Bitcoin Cash, USDC, USDT, EOS DAI, Ripple, and Stellar Lumen are among them.
Kalinic further stated that Konzum intends to maintain its dedication to the development of cutting-edge technology.