Several shops in Chile are now accepting cryptocurrency payments. The reason for this adoption is a cryptocurrency exchange Crypto MKT which has partnered with a payment platform Flow.ch.
According to Crypto MKT Blog, Over 5000 merchants have been integrated with this payment platform. To accept cryptocurrency payments these merchants have to register with the cryptocurrency payment platform called CryptoCompra.
CryptoCompra integrates cryptocurrency with businesses
This platform allows the merchants to accept cryptocurrency payments from the customers. It currently is available in Chile, Brazil, Europe, and Argentina. They support Bitcoin, Ethereum, and Stellar cryptocurrencies currently and will plan to expand their crypto portfolio soon.
The cryptocurrencies are globally recognized as an investment vehicle; now thanks to this alliance, the possibility of using them as an alternative payment channel is added. Stated in the Crypto MKT Blog (translated)
Customers can use Bitcoin, Ethereum or Stellar to Buy Products or Services from the merchants who have joined the platform. And the merchants will receive their payments in Chilean pesos. Also, the Price fluctuation of cryptocurrencies won’t affect the payments which are sent to retailers.
They also mentioned in the blog that accepting cryptocurrencies has several advantages for merchants from Chile like they can gain customers from all over the world, and the payments will be speed and efficient.
Now in Chile customers can buy products and services with cryptocurrency. Maybe after seeing this, Merchants in other countries would also want to provide cryptocurrency payments option to their customers.