Brazil Gives the Green Light for Fortaleza to Start Using BTC For Public Transit Payments

Fortaleza, capital of the Brazilian State, Ceara, widely known for its architectural highlights, has recently revealed plans of implementing Bitcoin [BTC] as an accepted payment method for public transit (i.e. taking the bus) reports The Block.

The news was initially reported by OPOVO Online, a Brazilian news outlet, who shared that the state’s Cooperative Autonomous Passenger Transporters (Cootraps) were the ones to have made this decision. Bitcoin was one of three recently planned options, while the other two include debit and credit cards.

As for how payment processing works for BTC, consumers will have to go into an application in which a QR code will be generated once the payment has been confirmed.

The CFO of Cootraps, Carlos Roberio Sampaio has since commented on this effort. Here’s what the CFO had to say in regard to choosing this path.

The closest available translation has been derived from OPOVO Online:

“This is a way of reducing bureaucracy, even bringing more users into transport.” Sampaio further added that this could potentially induce “a larger flow of people, […], make it easier for users.”

Another reason for said endeavor rests in the possibility of reducing costs associated with traditional means of payment currently accepted for public transits.

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Nirmala Velupillai
Nirmala Velupillai
Nirmala is a blogger who has been fascinated by the world of technology and its contributions to societal development. While a novice, her eager to learn about the crypto world has led her to write a number of pieces on its positive and negative aspects. On her spare time, she indulges in understanding and building statistical models and enhancing her painting skills.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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