As Konzum now accepts crypto online, the firm intends to spread the new payment option to its physical chain stores shortly
Konzum, Croatia's largest supermarket network, is catching pace with the trends by accepting payments in cryptocurrencies such as Bitcoin (BTC).
On December 1, the company officially declared that it now accepts nine cryptocurrencies for payment in its online store, enabling customers to utilise crypto to purchase groceries, hygiene items, and home necessities.
The supported cryptocurrencies, according to the release, include Bitcoin, Ether (ETH), Bitcoin Cash (BCH), EOS, Dai (DAI), XRP, Stellar (XLM), and stablecoins such as Tether (USDT) and USD Coin (USDC).
Konzum collaborated with a local crypto payment processor, Electrocoin, to build PayCek, a system that allows retailers to accept crypto payments, to allow the new crypto payment option. Considering the extreme fluctuation of crypto prices, the PayCek method assures customers a fixed exchange rate at the beginning of the transaction, providing adequate time for proper execution, according to the statement.
The retailer employs over 10,000 people and has over 700 stores within Croatia.
The adoption of crypto payments, according to Konzum board member Uro Kalini, demonstrates the company's dedication to global retail trends and innovations.
“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,” he said.