Pay in Bitcoin to Buy Fruits and Vegetables in Kiev
Besarabsky Market, a famous market in Kiev, the capital of Ukraine, has now started accepting cryptocurrency payments in Bitcoin for buying fruits and vegetables. The purpose of offering this alternative payment option is to show easy it is to use cryptocurrencies in daily life as well.
Besarabsky Market is Kiev’s historic market and is an indoor market that is located in the center of the city and is now accepting cryptocurrencies. It had already been accepting Bitcoin Cash(BCH) but has now also added Bitcoin(BTC) to the mix. Both locals and visitors can buy groceries, especially fruits and vegetables using different cryptocurrencies. This has been made possible through a partnership with Paytomat, a crypto payments processor.
Currently, the currencies that are supported in addition to the two mentioned above are Litecoin(LTC), Ethereum(ETH), Nano,Dash, EOS,NEM and Waves. Currently, the market is going through an initial experimental stage where fresh produce is the main thing that can be bought. However, a vegan street food cafe at the market is also experimenting with cryptocurrency and plans on launching crypto payments soon. These crypto purchases are made through a QR code scan and sellers will receive the payment in fiat Ukrainian Hryvnias by an instant conversion.
This method is convenient for both the sellers and the customers as both will receive and send payments in their desired format.
According to Nikolay Kovalchuk, the option to pay using cryptocurrency will give buyers a new experience and also help to attract cryptocurrency enthusiasts. He is also hoping for and expecting increased customer loyalty leading to growth in sales. Furthermore, the market is one of Kiev’s main sights and is also often frequented by tourists.
This project has been named Babushka, which means Granny in Ukrainian. Its main goal is to set an example of how easy it is to use cryptocurrency in daily life. As per Alexander Kurin, the Operations Director at Paytomat, Ukraine, the most difficult part is convincing sellers that they will receive their payments in the fiat currency and will not have to spend time, effort and money in converting the cryptocurrency.
The main idea is a symbiosis between traditions and innovations. We chose the Besarabsky market because it is a well-known tourist destination, and cryptocurrencies are a universal means of payment in any country.
Paytomat has been working for a while now to introduce cryptocurrency payments in cafes, restaurants, online stores, clinics, schools, beauty salons and Ukrainian outlet stores. Businesses and other services that use Paytomat are spread across Europe including countries like Ukraine and Georgia in the East and Netherlands and Spain in the West.
Paytomat has many payment solutions like POS terminal, web portal, QR code and WordPress plugin. Paytomat supports 11 cryptocurrencies and has partnered up with more than 330 restaurants and stores.
So far this market is the only one that accepts cryptocurrencies as payment. Perhaps it will be able to set a model for other grocery markets around the world as well.