Written by: FIMA Plus
Although three out of five respondents (60 percent) have already used digital payment for daily transactions instead of cash, research conducted as early as the beginning of 2020 revealed resistance to cashless payments in developed countries and among people aged 40 and older. However, the coronavirus pandemic has definitely changed the world of payments. With the introduction of isolation measures, a trend of reduced consumption in all types of stores was initiated, while online shopping is increasing. Additionally, the acceptance of digital payments has accelerated, further fueled by the fear of handling cash and touching hard surfaces such as PIN pads and touch screens.
Recent research shows that even one-third of consumers have started online shopping and digital payments for the first time, and two-thirds of them intend to continue doing so even after ‘normalizing’ life. Retailers who introduced cashless and contactless payments suddenly found themselves at an advantage, confirming the old rule that new technologies successfully bridge crisis times and bring competitive advantages.
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ADEO POS cash register was the first to offer cryptocurrency payments in Croatia via FIMA Pay
Croatia’s integration into digital trends is unstoppable, primarily due to the enthusiasm of entrepreneurs who follow new technologies. Significant advancements in the crypto world of Croatia have been occurring for some time. After the first cryptocurrency exchanges that have been operating for years, last year we received a crypto payment system, and this year the first crypto fund was established. In addition, HANFA has taken over the supervision of these activities.
Regarding the modernization of the payment system, FIMA Plus and Neoinfo took care of this, as they were the first in Croatia last year to enable contactless digital payments in cryptocurrencies through the FIMA Pay payment system at ADEO POS cash registers at over 3500 locations in Croatia.
Therefore, you can pay for products and services such as haircuts or coffee with cryptocurrency, even though they are issued in kunas. The payment procedure is extremely simple and involves scanning a QR code with a digital wallet on your mobile phone, after which the transfer of funds from the digital wallet to the company’s account follows, with automatic conversion to kunas.
This innovation is credited to the Zagreb software company Neoinfo, which developed the mentioned cash register software, and the Varaždin company specialized in providing services in the crypto market, FIMA Plus, which processes crypto transactions through its FIMA Pay system and acts as an exchange. Currently accepted cryptocurrencies are bitcoin, litecoin, ether, and bitcoin cash.
This additional option does not incur any extra costs for ADEO POS users, and the cash register already supports the usual payment methods using cash and cards, as well as more modern ones such as Google Pay, Apple Pay, Garmin Pay, and the mobile application Settle.
– Shortly after ADEO POS became the first cash register in Croatia to support payments via the mobile application Settle, we continue with innovations and are the first within the cash register to offer cryptocurrency payments. Accepting as many mobile payment methods as possible aligns with our vision of developing the most complete cash register on the market – said Neoinfo director Igor Vukmirović.
Digital transformation of the economy has become a daily topic, and it is necessary to seek space for progress within it. The crypto market, as part of the digitalization of the financial market and payment system, is becoming increasingly regulated, larger, and more accessible to people every day. FIMA Plus has been striving from the very beginning to bring the digital cryptocurrency market closer to the general public without too much complication. The product of this is FIMA Pay, a service designed in collaboration with the Slovenian company Limitlex, which enables the aforementioned payments in cryptocurrencies.
– Every company in the world, including those in Croatia, can accept payments for their invoices in cryptocurrency. This is part of the digital transformation of the entire economy, which is happening around us and intensifying more every day. News of this type is a global everyday occurrence, and I look forward to the days when such information will increasingly come from Croatian companies. In fact, our companies can already do all this today, but they are not yet aware of it. Strange, isn’t it? But true – said FIMA Plus director Milan Horvat. He also added that FIMA Pay works excellently as a standalone solution.
– But we knew we could offer entrepreneurs a higher quality and simpler service through the integration of our service with existing POS cash register applications. Neoinfo was the first to recognize the importance of developing the digital market, our results and activities in that market, as well as its future potential, so the business collaboration between our two companies is just a logical consequence of all of the above. After the successful implementation of the FIMA Pay service, both companies want to continue their business collaboration by developing new joint projects – says Horvat.
The FIMA Pay service can be directly used in Čakovec, Varaždin, Osijek, and Zagreb, and the implementation of the service is very simple, just like its use. This is one of the reasons for its rapid and easy introduction into the operations of various business sectors, both online and physically at points of sale.
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