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Retail

Croatia's Konzum Introduces Payment In Cryptocurrencies

Croatia's largest food retailer, Konzum, said on Wednesday that from this month it had introduced an option of paying with cryptocurrencies in its online shops to be the first local retailer offering the payment service.

'Paying with cryptocurrencies is currently possible in our online shops, but soon we plan to introduce it in other shops across the country,' Konzum said in a statement.

Konzum is part of the Fortenova Grupa which is the biggest food producer and retailer in the Balkan region.

Fortenova Group reported 35% year-on-year growth in consolidated revenue from continuing operations in the first half of its financial year.

Read More: Konzum Still Leads in Croatia, But Lidl, Kaufland Gain Ground

Payment In Nine Cryptocurrencies

Konzum, whose shops are also frequented by many foreign tourists visiting Croatia, offers the possibility of payment in nine cryptocurrencies, including bitcoin.

According to Croatian online news portal n1info.com, the other cryptocurrencies that will be accepted include ether (ETH), bitcoin cash (BCH), EOS, DAI, ripple (XRP), stellar lumen (XLM), tether (USDT) and USDC.

The report also said that payment with cryptocurrencies has been introduced in cooperation with the Croatian fintech company Electrocoin and its PayCek system – the country's first cryptocurrency payment processor.

In early November, US retailer Kroger Co said it was looking into the publication of a fake press release, claiming the acceptance of Bitcoin Cash at its stores, as it became the second major retailer at that time to get entangled in a crypto hoax.

News by Reuters, additional reporting by ESM. For more Retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

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