You Can Now Buy Fruits and Vegetables with Bitcoin in Kyiv

News and Analysis

Famous Bessarabian market in the heart of Ukraine’s capital, the city of Kyiv, is now offering an option of purchasing fruits and vegetables with Bitcoin or other cryptocurrencies using decentralized payment protocol Paytomat.

ForkLog reached out to Paytomat’s Ukrainian operational director Aleksandr Kurinnoi to hear more about the initiative.

According to Kurinnoi, the project dubbed “Babushka” (Grandmother) wants to show the simplicity of using cryptocurrencies in everyday life.

“At the moment this feature is working in test mode at a single vendor. With the help of cryptocurrency wallet app customer can scan QR-code. After this, the customer is automatically transferred to the cryptocurrency converter page where he needs to enter the purchase price in hryvnias. Next, the customer transfers payment to merchant’s wallet in cryptocurrency of their choice and after the merchant gets a notification of funds being received, this transaction comes to a logical conclusion,” described he the process.

Aleksandr Kurinnoi added, that before completing the transaction Paytomat automatically selects the best exchange rate.

Before launching, Paytomat representatives reached an agreement with management of Bessarabian market. According to Aleksander Kurinnoi the hardest part was convincing the single available merchant that she will receive the exact amount of hryvnias in cash settlement.

“The main idea is the symbiosis of traditions and innovations. We chose Bessarabian market because it is a well-known tourist attraction and cryptocurrencies are a universal payment tool in any country”, he said.

Paytomat has been implementing cryptocurrency payments for more than a year now in cafes, restaurants, online stores, clinics, beauty salons and schools. Establishments, accepting cryptocurrencies, are based in Ukraine, Georgia, Netherlands, Spain and other European countries.

At the moment Paytomat offers four ways to pay with cryptocurrency:

  • via POS-terminals, integrated with automation systems (currently Poster, ProfitSolutions, Servio, IIKO and 1С are available). During the billing process an option “Payment in cryptocurrency” will appear in addition to the standard payments in cash or credit card;
  • via web panel on the terminal;
  • via single QR-code;
  • for online stores on WordPress – via the free plugin Paytomat Crypto Gateway for WooCommerce.

As previously reported by ForkLog, earlier this month Ukraine moved closer to regulating Bitcoin and other cryptocurrencies as financial instruments after the news broke out that the corresponding bill could be submitted for the Parliament’s consideration by the end of 2018 or early next year.

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