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.