Cryptocurrency Finds New Bessarabsky Market Use Case For Grocery Purchases
Bessarabsky’s market is well-known as a landmark for the Capital of the Ukraine. In an effort to further expand the use of cryptocurrency, and entice other investors, the market will now allow consumers to pay for their grocery items with cryptocurrency.
Some tokens are already being accepted to cover the cost of fruits and vegetables (like Bitcoin Cash), but this effort is meant to provide a simple way that crypto can be adapted to the everyday user.
This market is located entirely indoors and is found within the center of Bessarabsky. The annoucement that the company would now allow users to pay with cryptocurrency was found on a Facebook post by the company that runs it. Fresh produce is available year-round, and users that take part in many of the top 10 cryptocurrencies will be able to use them.
Each payment is processed with Paytomat, which has the same style as a typical point-of-sale device, except that accepts digital assets. Right now, consumers are able to pay with the following cryptocurrencies:
- Bitcoin Cash (BCH)
- Bitcoin Core (BTC)
- Bitcoin Gold (BTG)
- Litecoin (LTC)
- Ethereum (ETH)
The use of digital assets is presently in the experimental stage as it starts, with fruits and vegetables only being the beginning. Ideally, the rest of the marketplace will soon integrate Paytomat as well. For instance, there is a street food café in the area that has expressed their interest in launching a system that allows patrons to cover their vegan lunch.
For businesses that access payments via QR scan, there should also be the capability of receiving cryptocurrency. Once the seller accepts the cryptocurrency payment, their funds will be able to automatically convert into the local currency – Ukrainian hryvnias.
With this payment option, along with making cryptocurrency easier to use, the marketplace hopes to bring in buyers that are already enthusiasts of these tokens. The managing director, Nikolay Kovalchuk, says that he hopes the market’s commitment to innovation will be an adequate way to secure loyalty from customers. This area is frequently visited by tourists, and the use of crypto payments ensures that they can make purchases without having to convert the currency from their own countries.
This entire effort is being called “Babushka,” which is a term for “grandmother,” and the hope is that it will bring a user-friendly quality to cryptocurrency. The operations director of Paytomat in the country, Alexander Kurin, believes that the most difficult part of this process is to gain the trust from sellers that they will actually receive the converted payments after sales. In a discussion with Forklog, he said,
“The main idea is a symbiosis between traditions and innovations. We chose the Bessarabsky market because it is a well-known tourist destination, and cryptocurrencies are a universal means of payment in any country.”
Paytomat has been the biggest effort in the Ukraine to make cryptocurrency payments an option for various areas of commerce, like restaurants, online stores, schools, and salons. The various services that it could be used to apply to are substantial, and they go much further than the borders of this country. They offer several ways of accepting payments, which include POS devices, web panels, QR code, or a plugin via WordPress.
Presently, Paytomat has the ability to access 11 different cryptocurrencies, and there are just 330 restaurants and stores that already use their resources.