Brazil-Based Chain Store Now Accepting Payment for Goods Using Cryptos

Oásis Supermercados, a supermarket chain store in Rio de Janeiro, Brazil has made it known that it now accepts payment in the form of bitcoin cash (BCH), Litecoin(LTC), and bitcoin core (BTC). By doing this, it has joined the growing list of businesses in Brazil which now receives payments in the form of digital currency.

Oasis Supermercados Start to Accept Cryptos
Oasis Supermercados has announced that, since 18th of December 2018, its customers can now make payment for products using Bitcoin Cash, Litecoin, and Bitcoin. Once a customer selects which crypto to pay through, the system receives the digital coins and converts them to its equivalent in FIAT using a crypto payments processor called Coinwise. After three days, the payment processor will send Brazilian reals to the supermarket.

In Brazil, the acceptance of cryptocurrencies as payment for services rendered is now becoming a norm. However, this move by the supermarket a very important one.

A co-manager of the store, Douglas Andrade disclosed that Thiago, who is also his brother and co-manager developed the notion of accepting virtual currency at the supermarket after seeing a video on the subject and taking a further step of consulting a cryptocurrency brokage firm for more enlightenment.

He explained further that cryptocurrency purchase is similar to paying using credit cards, in a statement which reads:

“The client says which cryptocurrency he wants to pay, the operator types in reals and the system immediately converts to that crypto. Then just get the QR code and you’re done,”.

Training of Employees
The supermarket chain which consists of 2 stores with 90 employees out of which 20 are cash operators has a yearly turnover of up to $6.45 million (25 million reals). All the workers have received lessons on how to manage cryptocurrency purchases.

So far, no virtual currency payment have been completed since the payment method got launched, the public has however shown significant interest.


Source
Author: Joshua Tayo
Image Credit