Konzum, Croatia’s largest supermarket chain, has launched payments in cryptocurrency like Bitcoin (BTC) to keep up with the times. On December 1, the company announced that it now accepts nine cryptocurrencies for payment in its online shop. Customers can use crypto to purchase groceries, hygiene products and household supplies. Although it agrees to cryptocurrency online for now, Konzum plans on expanding the new payment option to its physical stores.
The announcement states that Bitcoin, Ether, Bitcoin Cash (BCH), EOS (DAI), XRP and Stellar (XLM) are supported cryptocurrencies. It also includes stablecoins such as USD Coin (USDC) or Tether (USDT).
Konzum has partnered with Electrocoin, a local cryptocurrency payment processor, to enable this new payment option. PayCek allows merchants to accept crypto payments. The announcement states that the PayCek system provides a guaranteed exchange rate for buyers at the beginning of every transaction. This allows for sufficient time to ensure that the transaction is successful and that it won’t succumb to any significant price fluctuations.
Konzum accepts cryptocurrency online for the time being, but plans to expand this payment option within its supermarket chains in the near future. More than 700 stores are located in Croatia by the retailer, and it employs more than 10,000 people.
Uros Kalinic, a Konzum board member, said that the company’s introduction of crypto payments demonstrates its commitment to global trends in the retail sector. He describes it as “a leader in the domestic marketplace” and adds that the company is proud to be a leader in “an area that is developing and forming the future.”