HomeMarket TrendsKonzum Becomes First Retailer in Croatia to offer Crypto Currency Payments

Konzum Becomes First Retailer in Croatia to offer Crypto Currency Payments

Konzum, the leading supermarket chain in Croatia, has become the first retailer in the country to offer cryptocurrency payments.

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Payments in cryptocurrencies are now available through Konzum’s online store, but they plan to soon introduce cryptocurrency payments in their physical stores across Croatia.

From the 1st of December 2021, customers can use cryptocurrency to purchase online groceries, hygiene, household items, and other 12.000 items that the Konzum webshop has to offer.

“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. As the largest retail chain in Croatia, with almost a 65-year history as a 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 dictating the future. We continue to invest in the development of innovations and technologies in order to remain the first choice for our customers and to be a next-generation retail chain that provides a premium shopping experience “, Uroš Kalinić, Member of the Management Board of Konzum for Finance and IT.

The cryptocurrency payments were made possible thanks to their cooperation with the domestic fintech company Electrocoin and their PayCek system, the first Croatian cryptocurrency payment processor.

Konzum’s payment webshop is able to use nine different cryptocurrencies – bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, DAI, ripple (XRP), stellar lumen (XLM), tether (USDT), and USDC.

Easy as Payment via Cards

The process of paying with cryptocurrencies is simple and similar to card payments.

When completing the product selection, the customer will be able to choose the cryptocurrency payment option and the system will offer a list of those available. After selecting the desired cryptocurrency, the amount in its equivalent will be displayed and a QR code with payment address will be generated. The customer will simply need to scan the QR code with their personal cryptocurrency wallet.

By confirming the transaction, the customer will make the payment and receive a confirmation of the transaction from the PayCek system by e-mail, while Konzum will send out an invoice for the paid service or product.

Given the volatility of the cryptocurrency exchange rate, which can vary from minute to minute, the PayCek system will guarantee the buyer a fixed exchange rate equivalent in time to initiate the transaction, at no additional charge.

It seems that the future of retail is in cryptocurrency!

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