Farmarket, The Venezuelan Pharmacy Franchise, is Now Accepting Crypto Payments


Farmarket, the Venezuelan pharmacy chain has just released a statement indicating that it will now start accepting cryptocurrency payments. This comes in the wake of the chain announcing that it had entered into a partnership agreement with the Panda Exchange proprietary money remission system.

The pharmacy chain is expected to start by piloting a point of sale system enabled by Dash. The system is known as XpayCash and is intended to make it possible for clients to make real-time cryptocurrency payments for all their purchases. Dash Core Group released a statement on Monday, August 26th indicating that the system would initially be rolled out to 22 pharmacy stores.

Dash Core Group And Farmarket

The rollout process is expected to occur within the next two quarters. On-site training for the next twenty-four months will be provided by representatives from the Dash Core Group. The group is doing this in a bid to boost the use of cryptocurrency in as many physical stores in Venezuela as possible, according to Robert Mozo, a Panda Exchange Partner.

In the press release sent out by the company, it is estimated that there are more than 4,900 merchants around the world accepting Dash payments. Of this, half is currently based in Venezuela.

It goes on to state that much of the headway made by the company has been via DiscoverDash. The platform has been able to make much headway due to its many training efforts targeting small and medium-sized businesses, many of which are run and operated by small scale traders and members of their families.

While the training initially targeted SMEs, it has now grown to also target large and established businesses and enterprises. Dash Merchant Venezuela has also helped in the targeting efforts by helping to create business relationships that did not exist before. Many of these connections have come about due to the provision of cryptocurrency enabled point of sale services to businesses and enterprises.

The connections have also led to the reduction of employee salary inconsistencies that had proved troublesome in the past years. Ryan Taylor, Dash Group CEO stated that they were optimistic that the partnership between Dash and Farmarket would make it easier for clients in Venezuela to easily pay for their medicine purchases.

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