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Croatia’s retail giant Konzum now accepting Crypto Payments

Konzum’s crypto payments

December 2, 2021

Reading Time: 2 minutes

Croatia’s top supermarket chain Konzum has started accepting Bitcoin and other crypto payments in its online shops. Konzum has become Croatia’s first local retailer to accept crypto payments.

Konzum Accepts Bitcoin and Eight Other Digital Coins

Croatia’s retail giant Konzum officially announced on Wednesday, December 1. The list of digital coins the store will accept include Bitcoin, Bitcoin Cash (BCH), Ether (ETH), Stellar (XLM), XRP. EOS, and Dai. Konzum will also accept stablecoins including USD Coin (USDC) and Tether (USDT).

Supermarket chain Konzum was founded back in 1957. It is a very old player in the economy. Thus, its acceptance of crypto payments signifies a step forward for the traditional systems incorporating crypto, the newest currency, into their operations.

Konzum is a popular sport in Croatia for groceries, hygiene items, household supplies, and other essential items. Amazingly, shoppers will be able to buy everyday consumer items and pay with their desired accepted cryptocurrency.

Konzum’s crypto payments feature will begin exclusively on its online stores. However, the retail giant mentioned that the feature will be available in its physical stores in the coming months.

The store has partnered with Croatian fintech company Electrocoin to facilitate the seamless rollout and performance of the crypto payments. Croatia’s retail giant Konzum will be utilizing Electrocoin’s PayCeck system for an immaculate payment system, similar to card payments.

Electrocoin’s PayCeck system promises to eliminate the volatility risks associated with crypto payments. The system will provide customers with exchange rates at the time of payment.

To pay with Bitcoin or other accepted crypto, shoppers will select their desired crypto payment option, and scan the barcode to complete the transaction.

Konzum’s Crypto Payments is the First Among Local Stores in Croatia

Speaking about the launch, Uros Kalinic, a board member at Konzum stated that they were proud to be leaders in yet another area experiencing rapid development. Kalinic added that supermarket chain Konzum was keen on investing in innovations and technologies that will keep it as the first choice for the customers.

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