Well I think if they are not allowing any payments through bitcoin then it might be possible that they are having their own crypto coin.
They might be using this strategy to popularize their currency among their customers. In this way the customers would buy that currency and would be able to purchase different items from the store.
This could be a great trick but it could also harm their sale if people started going to other store.
Topic: A supermarket in Mexico now allows Bitcoin payments for all their items - page 5. (Read 894 times)
December 23, 2021, 12:32:43 PM
December 23, 2021, 12:12:22 PM
Hey!
Am I the only one to think the following:
Since BitPay requires a KYC verification, who's interested to send the personal documents to verify the ID? And to do this, just to pay a retail store? Only a few. On top of that, not everything can be paid with BTC?
There are already more and more people who refuse to finalize their online purchases when they see Bitpay, so imagine IRL...
Its target is people with a low income. If they have no money basically, what makes you think they suddenly will have money to buy BTC?
Sound attractive on the paper, but in reality not so much and rather not very convenient for everyday life. It smells a future flop.
It's like going to the bakery and being asked for your ID card if you want to pay in BTC. You can pay for the bread with BTC but not the cakes and pastries.
Am I the only one to think the following:
Since BitPay requires a KYC verification, who's interested to send the personal documents to verify the ID? And to do this, just to pay a retail store? Only a few. On top of that, not everything can be paid with BTC?
There are already more and more people who refuse to finalize their online purchases when they see Bitpay, so imagine IRL...
Its target is people with a low income. If they have no money basically, what makes you think they suddenly will have money to buy BTC?
Sound attractive on the paper, but in reality not so much and rather not very convenient for everyday life. It smells a future flop.
It's like going to the bakery and being asked for your ID card if you want to pay in BTC. You can pay for the bread with BTC but not the cakes and pastries.
December 23, 2021, 11:58:54 AM
What is more interesting is that their government is actually accepting all of this! I am just loving the concept of public domain acceptance of bitcoin and is also approved by government means a lot. I mean all of the government should learn from this for real. What’s interesting is, most of countries who are either dominated by developed countries which are nearby and not taking much interest in their development. Anyways, the point is they are at least starting it somewhere. This adoption might look very tiny at first glance but this is alternatively bitcoins smart advertising. As they say you know, things which are best does not need to be advertised but they do get attention indirectly. That’s what it is! Kudos to them.
December 23, 2021, 11:51:34 AM
must be very fun for those who can shop for their needs using their bitcoin assets as a means of payment. unfortunately, I have not been able to enjoy such an experience. because in my country it is hindered by regulations.
but when more and more countries are starting to open up to this payment instrument, of course, I have faith that one-day bitcoin will be accepted in all countries as a means of payment.
the issue of cost which I think will no longer be a topic for now. it's possible that the speed of transactions can be annoying and create long queues at the cashier. although I believe in its application in supermarkets or other stores, it should have prepared a special payment counter with bitcoin or other crypto transactions.
but when more and more countries are starting to open up to this payment instrument, of course, I have faith that one-day bitcoin will be accepted in all countries as a means of payment.
the issue of cost which I think will no longer be a topic for now. it's possible that the speed of transactions can be annoying and create long queues at the cashier. although I believe in its application in supermarkets or other stores, it should have prepared a special payment counter with bitcoin or other crypto transactions.
December 23, 2021, 11:50:35 AM
since they are accepting also In El Salvador meaning this business originated in El Salvador and not in mexico?
The business is Mexican, it has subsidies in other countries, this move has nothing to do with Salvador legislation, the current offer is for Mexico, and the division Salvador accepts BTC because it must do there like any other business operating in the country.
As to the TOS for the Bitcoin promotion itself, I’d point out the following:
- Purchase must be in the range of 5K pesos (240 USD aprox.) to 57K pesos (2750 USD aprox.)
- The promotion has an allocated fund of 1M Pesos (a bit over 48K$)
See: https://www.elektra.com.mx/terminos-de-promociones (In Spanish)
- Purchase must be in the range of 5K pesos (240 USD aprox.) to 57K pesos (2750 USD aprox.)
- The promotion has an allocated fund of 1M Pesos (a bit over 48K$)
See: https://www.elektra.com.mx/terminos-de-promociones (In Spanish)
Wait a minute, so if a bit less than 100 poeple max out their purchases, getting each 550$ in discount that's it?
Isn't there another zero?
For a business with a revenue of 80 billion, they could have pushed a little more money into this! https://www.elektra.com.mx/promociones-bitcoin?page=1
It's this only for games and controllers?
Anyhow, it's still a promo, it's still a store where you can buy some stuff with BTC and a way to save some $, still a net positive.
December 23, 2021, 11:18:47 AM
Great to hear this kind of news as usual. They might have their own ulterior motives behind this scheme, but I am just happy that BTC adoption keeps rising slowly and steadily which is what primarily matters at the end of the day.
The payment speeds could trouble them, but the fees aren't really an issue anymore unlike ETH fees which are still horrendous currently.
The payment speeds could trouble them, but the fees aren't really an issue anymore unlike ETH fees which are still horrendous currently.
December 23, 2021, 11:17:42 AM
-snip-
This is such a great strategy to encourage the public to adopt Bitcoin and introduced many more cryptocurrencies to them. Kudos to the Elektra supermarket for this bold move, I wish for the positive an successful outcome of this. I have a question tho, correct me if I’m wrong, but is this some sort of partnership with Bitpay and the supermarket? Because the way I see it, Bitpay would most likely will have the control when it comes to transactions made with Bitcoin.
ya.ya.yo!
December 23, 2021, 10:50:50 AM
Adoption is growing every day despite some efforts of people who are against this.
Good move from some smart people who live in Mexico, and I doubt their government has to do anything with this, including preventing this deal from happening.
Giving 20% discount for paying like this is like a cherry on top, and I wonder if this offer is for online and offline in person shopping.
Croatia did something similar few weeks ago when one of the largest supermarket chain Konzum accepted purchases with cryptocurrencies, but for now it's only for online orders.
Good move from some smart people who live in Mexico, and I doubt their government has to do anything with this, including preventing this deal from happening.
Giving 20% discount for paying like this is like a cherry on top, and I wonder if this offer is for online and offline in person shopping.
Croatia did something similar few weeks ago when one of the largest supermarket chain Konzum accepted purchases with cryptocurrencies, but for now it's only for online orders.
December 23, 2021, 06:04:43 AM
The supermarket is using Bitpay, you can pay with any wallet you want.
If the store accepts digital payments by Bitpay, the goal may be to move away from the inflation of the local currency by obtaining the dollar in the bank account, not the Bitcoin itself.Bitpay's transfers are made by depositing money into your bank account and then it may be an indirect way to transfer money to them instead of the traditional methods.
I don't know but if they want to keep the bitcoin hiring a tech developer who will set up a payment channel using BTCPay Server would be better.
December 23, 2021, 05:44:34 AM
I’ve being going over their TOS for paying with bitcoin, and there are a couple of things to point out:
- Not all products are payable with bitcoin. Only those for which payment is available with bitcoin will be selectable as a means of payment.
- If you underpay, purchase will be aborted, and you need to contact Bitpay for a refund.
- If you overpay, the purchase will go through, but you will need to contact Bitpay to get back the amount that exceeded the price.
- If you give back a product, refund will be in fiat (pesos)
See: https://www.elektra.com.mx/terminos-y-condiciones-bitcoin (in Spanish -> Google translating the link does not seem to render a visible translation).
As to the TOS for the Bitcoin promotion itself, I’d point out the following:
- Purchase must be in the range of 5K pesos (240 USD aprox.) to 57K pesos (2750 USD aprox.)
- The promotion has an allocated fund of 1M Pesos (a bit over 48K$)
See: https://www.elektra.com.mx/terminos-de-promociones (In Spanish)
- Not all products are payable with bitcoin. Only those for which payment is available with bitcoin will be selectable as a means of payment.
- If you underpay, purchase will be aborted, and you need to contact Bitpay for a refund.
- If you overpay, the purchase will go through, but you will need to contact Bitpay to get back the amount that exceeded the price.
- If you give back a product, refund will be in fiat (pesos)
See: https://www.elektra.com.mx/terminos-y-condiciones-bitcoin (in Spanish -> Google translating the link does not seem to render a visible translation).
As to the TOS for the Bitcoin promotion itself, I’d point out the following:
- Purchase must be in the range of 5K pesos (240 USD aprox.) to 57K pesos (2750 USD aprox.)
- The promotion has an allocated fund of 1M Pesos (a bit over 48K$)
See: https://www.elektra.com.mx/terminos-de-promociones (In Spanish)
December 23, 2021, 04:24:35 AM
Every time i enter Malls and supermarket i am trying to look if there is at least one establishments that literally offers accepting bitcoin or any other cryptocurrencies because i keep on reminding myself that it is better to help circulate crypto than keeping it on hold.
In a outside the city small business i come to find one that accepts bitcoin but never that i found another.
so this for Mexican is a Blessings because they can easily use bitcoin while even buying dozen of eggs or even Mineral water.
In a outside the city small business i come to find one that accepts bitcoin but never that i found another.
so this for Mexican is a Blessings because they can easily use bitcoin while even buying dozen of eggs or even Mineral water.
December 23, 2021, 03:16:56 AM
It is good progress for crypto as that can get more attention from people if they read advertisements. Besides that, it can make them curious about what it is bitcoin and hopefully, that can make them start learning more about bitcoin before they use it. They will be aware that they can now use bitcoin or other cryptos to buy something at the supermarket. Hopefully, that can run smoothly and people can accept the new option to pay for any product in a supermarket in Mexico.
December 23, 2021, 02:53:37 AM
This is how it is going to happen, not with El Salvador where people are suddenly forced to do it. In Argentina also I read some places are doing the same as the currency is just going nowhere with super inflation.
When people make the choice it will be because they have opened their eyes. Any Mexicans in this forum? I would love to see them and talk to them about experiences
When people make the choice it will be because they have opened their eyes. Any Mexicans in this forum? I would love to see them and talk to them about experiences
December 23, 2021, 02:40:46 AM
That means that they already accept Bitcoin directly from at least 2 countries: Mexico, and El Salvador. Some of the other countries in that list could potentially be the next one.
December 23, 2021, 02:14:35 AM
Well, even if in the end the customers don't use it much because the customers are low income or if in fact the company is doing it as a business move, this is of great importance. Can anyone imagine going to Wall Mart or your country's equivalent and seeing that Bitcoin payments are accepted? It is very important for mass adoption.
On the other hand, I still think that even if customers were wealthy, I don't think Bitcoin payments would be in the majority. What are peopel going to do? Save in fiat currency and spend Bitcoin? I think that only those who receive all their income in Bitcoin would pay in bitcoin at the supermarket, which is almost nobody nowadays. There are also other cases, people who bought a long time ago and spend small parts of it.
But all in all, good news and I hope we see many more like this in the future.
On the other hand, I still think that even if customers were wealthy, I don't think Bitcoin payments would be in the majority. What are peopel going to do? Save in fiat currency and spend Bitcoin? I think that only those who receive all their income in Bitcoin would pay in bitcoin at the supermarket, which is almost nobody nowadays. There are also other cases, people who bought a long time ago and spend small parts of it.
But all in all, good news and I hope we see many more like this in the future.
December 23, 2021, 01:27:10 AM
Elektra supermarket in Mexico recently started accepting Bitcoin payments and is encouraging their clients to do so, as they offer a 20% discount when paying with it (until end of the year).
Here's the promo banner (in Spanish):
Now people in Mexico are able to buy groceries, and retail in general using Bitcoin directly.
An interesting thing to consider is that the parent company, Grupo Elektra, has operations in these countries: Mexico, US, Guatemala, Honduras, Peru, Panama, and El Salvador.
source: https://en.wikipedia.org/wiki/Grupo_Elektra
That means that they already accept Bitcoin directly from at least 2 countries: Mexico, and El Salvador. Some of the other countries in that list could potentially be the next one.
This is a good development that supermarket in Mexico is going to accept payments in Bitcoin. Moreover, the supermarket is also giving a 20% discount to its customers. On all shopping from this market, the payment is being received directly through Bitcoin.Here's the promo banner (in Spanish):
Now people in Mexico are able to buy groceries, and retail in general using Bitcoin directly.
An interesting thing to consider is that the parent company, Grupo Elektra, has operations in these countries: Mexico, US, Guatemala, Honduras, Peru, Panama, and El Salvador.
source: https://en.wikipedia.org/wiki/Grupo_Elektra
That means that they already accept Bitcoin directly from at least 2 countries: Mexico, and El Salvador. Some of the other countries in that list could potentially be the next one.
If private institutions and markets will step forward to promoting bitcoin or cryptocurrency in the shopping mall, supermarkets, etc, it will fell a positive impact on the bitcoin user & bitcoin families. They will be facilitated, comfortable for its utilization.
December 23, 2021, 01:14:24 AM
Elektra supermarket in Mexico recently started accepting Bitcoin payments and is encouraging their clients to do so, as they offer a 20% discount when paying with it (until end of the year).
Here's the promo banner (in Spanish):
Now people in Mexico are able to buy groceries, and retail in general using Bitcoin directly.
An interesting thing to consider is that the parent company, Grupo Elektra, has operations in these countries: Mexico, US, Guatemala, Honduras, Peru, Panama, and El Salvador.
source: https://en.wikipedia.org/wiki/Grupo_Elektra
That means that they already accept Bitcoin directly from at least 2 countries: Mexico, and El Salvador. Some of the other countries in that list could potentially be the next one.
since they are accepting also In El Salvador meaning this business originated in El Salvador and not in mexico?Here's the promo banner (in Spanish):
Now people in Mexico are able to buy groceries, and retail in general using Bitcoin directly.
An interesting thing to consider is that the parent company, Grupo Elektra, has operations in these countries: Mexico, US, Guatemala, Honduras, Peru, Panama, and El Salvador.
source: https://en.wikipedia.org/wiki/Grupo_Elektra
That means that they already accept Bitcoin directly from at least 2 countries: Mexico, and El Salvador. Some of the other countries in that list could potentially be the next one.
also if this is a physical store then Yes this is a great achievements for cryptocurrency having 2 countries accepting Bitcoin directly from their wallets.
but Congratulations to the people who will use this offer as 20% off also is indeed to be taken .
December 23, 2021, 12:43:48 AM
Elektra supermarket in Mexico recently started accepting Bitcoin payments and is encouraging their clients to do so, as they offer a 20% discount when paying with it (until end of the year).
Here's the promo banner (in Spanish):
Now people in Mexico are able to buy groceries, and retail in general using Bitcoin directly.
An interesting thing to consider is that the parent company, Grupo Elektra, has operations in these countries: Mexico, US, Guatemala, Honduras, Peru, Panama, and El Salvador.
source: https://en.wikipedia.org/wiki/Grupo_Elektra
That means that they already accept Bitcoin directly from at least 2 countries: Mexico, and El Salvador. Some of the other countries in that list could potentially be the next one.
Here's the promo banner (in Spanish):
Now people in Mexico are able to buy groceries, and retail in general using Bitcoin directly.
An interesting thing to consider is that the parent company, Grupo Elektra, has operations in these countries: Mexico, US, Guatemala, Honduras, Peru, Panama, and El Salvador.
source: https://en.wikipedia.org/wiki/Grupo_Elektra
That means that they already accept Bitcoin directly from at least 2 countries: Mexico, and El Salvador. Some of the other countries in that list could potentially be the next one.
That's a good one. Trying to encourage more people to be interested in Bitcoin in particular and crypto in general.
Howver, my concern is what might actually discourage people is the transaction fees in doing these payments.
But, I like their concept, the discount is quite tempting.
December 23, 2021, 12:20:41 AM
It's interesting to know how they have implemented the bitcoin payment architecture in their store. Unfortunately I don't read Spanish so unable to read the details in their promo banner. Is it a normal on-chain transactions? Or they have implemented LN? I wonder how they are tracking the transactions and also how many confirmations are they looking before a customer can walk out from their stores with their purchased goods!
But this is really positive. Using bitcoin for daily purchases slowly becoming possible in some parts of the world.
But this is really positive. Using bitcoin for daily purchases slowly becoming possible in some parts of the world.
December 23, 2021, 12:13:04 AM
*snip*
Interesting. But still though, a 20% discount is a really hefty amount. I'm guessing they can do this simply because their profit margin is significantly more than their potential loss from the 20% discount, but still. If the goal was to hold the BTC, this is quite a bold move from them. Probably goes second to MicroStrategy in terms of confidence with BTC.
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