Croatia’s Konzum starts accepting cryptocurrency payments

Croatia’s Konzum starts accepting cryptocurrency payments
By bne IntelliNews December 1, 2021

Croatiam supermarket chain Konzum said it will start accepting cryptocurrency payments in its online shop as an additional payment method.

“The cryptocurrency payment process is simple and similar to card payments,” the company said on its website.

Konzum will accept payment with nine cryptocurrencies: bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, DAI, ripple (XRP), stellar lumen (XLM), tether (USDT) and USDC. They will be accepted as form of payment for more than 12,000 products on offer.

The new payment option has been introduced in cooperation with the Croatian fintech company Electrocoin and its PayCek system, the first Croatian cryptocurrency payment processor.

Upon completion of the transaction, clients will receive email confirmations from the PayCek system, and the invoice for the paid service or product will be sent by Konzum.

Due to the volatility of the cryptocurrency exchange rate, which can vary from minute to minute, Konzum noted that the PayCek system guarantees the buyer a fixed exchange rate equivalent while a purchase is being made.

Konzum is part of the Fortenova Group, the successor to the collapsed concern Agrokor.