The possibility of paying with cryptocurrency is approaching the Czech Republic. from October 22 2021 Global Payments, in cooperation with the Slovenian company GoCrypto, has launched a service that allows payments in Bitcoin and similar currencies. At the same time, it is as simple as paying with a payment card. All you need is a mobile phone.
Global Pyament is able to pay in cryptocurrency for merchants using mobile terminals (GP tom). “We have eight thousand stations in Central Europe and 3800 in the Czech Republic alone. According to Visa statistics, we are number one in our region”, Director of Global Payment and Country Operations for the Czech Republic Robert Mazoch.
Pay with GoCrypto
The number of other stations is expected to increase next year, and the company expects the number of stations to reach about 40,000 in the near future.
mobile phone wallet
Executive Vice President of GoCrypto Zigga Tony He said that there has been a lot of interest in cryptocurrencies lately. In his home in Slovenia, he owns about 20 percent of the population, and in the Czech Republic it is 8 percent, and this share can be expected to increase. “Not only do they have to save money in their crypto money, but they can start using it for payments. This means that they enter a store, get merchandise, and simply pay with crypto.” he added.
GoCrypto was founded by a team of cryptocurrency experts. It allows merchants to accept instant payments in cryptocurrency. GoCrypto operates as a global payment company and is currently available in 64 countries. Through it, currently 68 percent of all cryptocurrency transactions in the world take place. It is also the fastest growing crypto payment network in the world and is constantly adding new coins and wallets. Supports Bitcoin.com, Elly and Binance wallets, with which 7 different cryptocurrencies can be paid: BTC (bitcoin), ETH (ether), BCH (bitcoin cash), LTC (litecoin), XTZ (Tezos), VIB (Token Viberate), GOC (GoCrypto Token).
The principle is relatively simple. The customer downloads one of the supported mobile wallets – Elly, Bitcoin.com or Binance – to their mobile phone. When making a payment, it just scans the QR code that appears on the merchant’s terminal and confirms the payment in their wallet. At the same time, the merchant can choose whether to accept payment in cryptocurrency or even in local currency, in the case of the Czech Republic in crowns, or in euros in the eurozone.
The customer gets to know relatively easily that they are in a store where they receive cryptocurrency. Features a yellow elephant logo decal and GoCrypto engraving.
At the same time, cryptocurrency payments are also starting to gain interest from merchants, which was confirmed by app developer GP tom. Radovan Brix: “Now a car dealer has contacted us that customers are coming to him and wanting to pay for the car in cryptocurrency. Maybe these are the customers who bought bitcoin for a thousand dollars in the beginning and today it is worth about 65 thousand dollars. Now they said they are trading one because they have ten more.” He will buy the car for one person.”
Pay with GoCrypto
Bryx also sees the merchants themselves accepting cryptocurrency. He recalled a time when they persuaded merchants to accept credit cards. “It was even more fun when someone told you that their sales increased by twenty percent.” He added that the share of transactions in cryptocurrencies will definitely increase and customers will find such merchants. In addition, cryptocurrency owners tend to have more affordable customers who leave more money in stores.
The massive development of cryptocurrencies has recently surprised even the experts themselves. “We thought it would someday be in the future, but it transcends our lives. The idea of paying via a basement in a taxi was almost impossible. Bitcoin has always been Plan B, even if something happens to our currency. I think the system is very fragile and I am glad we have alternatives. In the vault that you have it with you and you don’t have to entrust the money to a third party, “ Economist and university teacher said Dominic Strucal.
Global Payments is the world’s largest provider of payment services and technologies. It operates in 100 countries around the world. It processes more than 50 billion transactions annually. It mainly focuses on small traders and businessmen. Ensures that customers can pay with their card. It was the first company in Central Europe to launch a mobile terminal – the GP tom app.
However, cryptocurrencies still have their drawbacks, such as large fluctuations in value. It is not even recommended to invest in cryptocurrencies. “Cryptocurrency is still an uphill journey. It is like the Wild West, and some people are inclined to play Russian roulette inside the Wild West. But compared to previous years, it is completely different.” Added the economist, who certainly did not think in 2013 that he would talk about cryptocurrencies in a serious tone with traders.
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