The discount store will accept most types of cryptocurrencies, and, for payment processing, customers will require to use their mobile phones. For in-store payments, the store will use a POS machine to finish the transaction, while the online process will help customers pay with crypto by simply clicking this type of payment at checkout. Both options are designed to make customers enjoy a hassle-free shopping experience, while adding extra versatility to the payment methods.
Although not regulated, cryptocurrencies have increased in popularity in the past few years, especially for large and luxury transactions, including real estate and cars. Despite their increased volatility and speculation risk, digital assets like cryptocurrencies are entering new markets, becoming an instant and easy method of payment for goods and services.
In Dubai, the World Trade Centre announced its intention to become a crypto zone and regulator in December 2021, while UAE-based crypto exchanges and real estate companies partnered to offer this digital asset as a payment method for real estate.
However, the retail sector remained reluctant to the adoption of digital goods, many expressing their intention to look into crypto further or wait for regulation coming from the authorities. Day to Day Hypermarket aims to become the first retail store to accept cryptocurrency payments for both online and selected physical branches, which is in line with the chain store’s strategy to enhance digitalisation and provide more flexibility to its regional clients.
The retail giant encourages customers to try the new crypto payment option while it accepts a wide array of digital assets, including Tron, Bitcoin, and Ethereum. To help clients learn more about the latest way to make payments, Day to Day has added a tutorial section on its website that explains the steps for in-store and online cryptocurrency payments.
The company now encourages other sectors apart from real estate, ecommerce, and retail to adopt crypto and reconsider their payment strategies to become more inclusive and potentially attract new customers and investors. The discount store aims to set a new benchmark for all retailers across the UAE that will cater to both citizens of the region and expats, in an effort to drive the kingdom’s digitalisation path and embrace a cashless society.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now