This supermarket chain accepts online payments in cryptocurrencies

Konzum is the first supermarket chain in Croatia to enable online payments using cryptocurrencies. The retailer plans to soon introduce the new payment method in its physical stores.

Nine currencies

Konzum is the largest supermarket chain in Croatia, with over 700 stores nationwide and some 10,000 employees. As of yesterday, customers can pay for their online orders using cryptocurrencies such as Bitcoin, Ether and Ripple. In total, the retailer accepts nine different cryptocurrencies.

“The introduction of payments with cryptocurrency is another sign that Konzum is constantly following global trends, introducing innovative projects and setting the standard in retail”, said Uroš Kalinić, member of the supermarket chain’s board of directors. “We will continue to invest in the development of innovation and technology to continue to be the first choice of our customers and provide them with an outstanding shopping experience.”

Fixed exchange rates

Paying with cryptocurrencies is straightforward and similar to normal card payments. Customers can choose the cryptocurrency payment option on the checkout page, and the system provides them with a list of available options.

Konzum partnered with Electrocoin, a local player whose PayCek system guarantees a fixed exchange rate at the start of each transaction, to make these payments possible. This offers protection against the enormous volatility of cryptocurrencies.

Konzum is not the first retailer to use cryptocurrencies: other household names like Starbucks, Home Depot and Whole Foods already accept them.