Boom! Crypto Ripple (XRP) Used As A Payment Tool In Croatia's Largest Supermarket Network

Croatia's largest Supermarket Network accepts XRP crypto payments (Blokt)

JAKARTA – In the midst of the Ripple (XRP) crypto issue with the US Securities and Exchange Commission (SEC), there is positive news from Croatia. Croatian supermarket chain Konzum announced that it is accepting XRP crypto payments for various products offered in its online store.

For information, Konzum already has more than 700 physical stores in Croatia. Konzum also has 10,000 employees. Konzum supermarket first opened in 1957 in Zagreb.

On Konzum's official website posted on December 1, the company allows the purchase of crypto as well as the payment of products with crypto: (i) to buy crypto (without commission) on its online store; and (2) it is possible to pay with crypto for the products offered in its online store.

A number of cryptocurrencies accepted as payment options at Konzum are Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS, DAI, Ripple (XRP), Stellar Lumen (XLM), Tether (USDT), and lastly USDC.

“The introduction of cryptocurrency payments is another indicator that Konzum is continuously monitoring global trends, introducing innovations, and setting standards in the retail sector. As the largest retail chain in Croatia, which in its nearly 65-year history is a sustainable leader in the domestic market in terms of business results and technological achievements, we are proud to be a leader in another fast-growing and future-defining field,” said Uroš Kalinić, Member of the Konzum Management Board for Finance and IT.

“We continue to invest in innovation and technology development in order to remain the first choice for our customers and as the next generation retail chain to provide a premium shopping experience,” added Uroš Kalinić.

As reported by CryptoGlobe, Croatia's largest supermarket said that support for this crypto was activated as a result of a collaboration with Croatian cryptocurrency broker and crypto payment processing company Electrocoin, which has a PayCek system that allows merchants to accept crypto and receive in their bank accounts HRK or EUR.

“When completing the product selection, the customer will be able to select a cryptocurrency payment option and the system will offer a list of available ones. After selecting the desired cryptocurrency, the equivalent amount will be displayed and a QR code and payment address will be generated, after which the customer can simply scan the QR code exclusively with personal cryptocurrency.

“By confirming the transaction, he will make the payment and receive the transaction confirmation from the PayCek system via email, while Konzum will send him an invoice for the paid service or product.”

Payment of products with these cryptocurrencies is not subject to additional fees. Despite the high volatility of cryptocurrencies, the company guarantees buyers an equivalent exchange rate on time.

“Given the volatility of cryptocurrency exchange rates, which can vary from minute to minute, the PayCek system will guarantee buyers an equivalent fixed exchange rate in time to initiate transactions, sufficient for successful execution at no additional cost.”

Not only online stores, Konzum is reportedly soon accepting crypto payments at its physical stores spread across Croatia. As of writing, the XRP crypto price is trading at Rp12,036. XRP has increased by 4.3 percent in the last 24 hours as data reports from Coingecko.