Following a collaboration with Panda exchange payment system, a Venezuelan pharmacy franchise will be able to accept payments in cryptocurrency. Farmarket retail chain has launched a Dash executed point-of-sale system called XpayCash. This payment system will enable customers to complete instant cryptocurrency transactions.
The Dashboard group made the news of this collaboration between the two on Monday. The payment process is set to be launched and piloted by about 22 pharmacy stores over the next two quarters. On-site training during the first two months of operations will be offered by Dash representatives, as an integral part of the company’s move to on-board potential cryptocurrency users in Venezuela.
Panda exchange partner Robert Mozo said the above sentiments in a press release. It should be noted that Venezuela has a more significant share of merchants that accept Dash globally, with a figure estimated to be about 4900 merchants according to the press release. This development has been pushed by DiscoverDash that has been offering Dash training to smaller firms and even businesses owned by families. Over the recent past, however, DiscoverDash has grown to be lucrative to even more established enterprises, firms, and companies.
Father onboarding efforts will be led by Dash merchant Venezuela, which has been successful in making business connections by availing and offering crypto enabled point-of-sales systems to businesses. It was however shut down for reasons of employee salary discrepancies.
“We expect our partnership with Panda in Colombia and Farmarket in Venezuela to be a substantial move towards a purchase driven economy where are not only Venezuelans in Caracas will be able to pay directly in stores with Dash, but also their relatives in Columbia and elsewhere will be able to buy medicine from abroad and resolve health issues for the relatives and loved ones, ” Ryan Taylor, the CEO of Dash Core Group is quoted to say in a statement.
Over the recent past, Venezuela has been making great strides towards quickly becoming a hothouse for on-ground and practical cryptocurrency usage. Some of these strides may be attributed to the fact that inflation of up to 815 1000 percent hit in the country in May. Such perverse economic conditions present cryptocurrencies as an excellent measure for the store of value as well as a stable payment method for the country’s citizens. Xpay charges a mere 3.99% in terms of the transaction fee. As more people continue to find the crypto industry and cryptocurrency wave to be attractive and continue to embrace it, companies and firms are also hopping into the bandwagon as the Venezuelan pharmacy chain, Farmarket recently has.