Croatia’s Leading Food Retailer Welcomes Crypto Payments
At the moment, this particular service is only available to customers shopping via the company’s online store. However, Konzum has plans to introduce crypto transactions at its brick-and-mortar stores in various locations all over Croatia.
Konzum Partners With Electrocoin
The company with its staff of over 10,000 individuals disclosed that its chosen strategy to venture into the crypto space is to adopt several digital currencies as a payment method. Konzum has brought 9 coins and tokens onboard including (BTC), as well as altcoins such as Ethereum, Bitcoin Cash, and Stellar, and also stablecoins Tether (USDT) and USD Coin.
To put the new payment method into operation, Konzum entered into a partnership with local fintech firm Electrocoin. The retail company will be using Electrocoin’s PayCek system, regarded as the crypto payment facilitator in Croatia.
By bringing PayCek onto their online store, Konzum has enabled customers to use their chosen crypto tokens to make payments using a generated QR code. Considering the generally fluctuating prices of most virtual assets, Electrocoin’s system will ensure customers of the retail company are provided with a predetermined exchange rate before a transaction begins. PayCek will also guarantee that they have enough time to make their purchases successfully.
More Companies Follow in Konzum’s Footsteps
According to a statement from Uros Kalinic, a member of Konzum’s Management Board which handles Finance and IT, Konzum is determined to keep tabs on rapidly evolving trends around the world. Kalinic alluded to the crypto industry being one of the foremost global trends and implied that the company’s successful 65 years of business has only lasted this long because Konzum was always ahead of time.
“We are proud to be leaders in another area that is rapidly developing and predicting the future,” he said.
Besides being at the forefront of Croatia’s retail industry, Konzum is also ahead of other companies in the Western Balkan region. The retail giant’s reach extends beyond Croatia as it has branches in 2 other countries in Europe – Serbia, and Bosnia & Herzegovina.
Konzum’s adoption of crypto as a means of payment could spark an interest in the crypto industry among other retailers. One company that has also welcomed crypto-payments recently is North-American e-commerce corporation Newegg.
Newegg, which first enabled BTC payments in 2014, has added meme coin Shiba Inu to its supported tokens. The company was also one of the firsts in the world to accept Doge before later enlisting LTC to its roll of accepted altcoins.
According to the company’s head of Brand Marketing, Andrew Choi, the wave of intrigue sweeping through the world concerning cryptocurrency, has likewise caught up with most of their customers.
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