Venezuela’s Leading Pharmacy Chain to Accept Payments in Crypto

If you are a Venezuelan crypto enthusiast, you will be delighted with this new wave of crypto adoption in the country. According to the latest reports, a prominent pharmacy chain of Venezuela is now going to begin accepting cryptocurrency payments. The crypto to be accepted by the pharmacy franchise in Dash and to achieve this; the firm has integrated with Panda Exchange-operated payments system.

Farmarket pharmacy chain, a leading pharmacy chain which is focussed on serving Venezuelan capital Caracas with its 22 locations, is implementing a POS system called XpayCash, that would enable consumers to make instantaneous crypto transactions in Dash, disclosed the official Dash blog post on 26th August 2019. The instant transactions are made possible with Dash’s InstantSend technology. The stores of Santa Paula, CCCT, and Centro Lido have already begun accepting Dash through XpayCash.

The blog also revealed that during the initial two months, on-site training would be provided by the local team members of Dash to pharmacy staff, as well as the general users, so that they can better understand the functionality of the technology and resolve their queries with regards to Dash or the X-Pay crypto POS.

On this new development, Farmarket’s General Manager, Cinthya Sagues, stated that the Dash payment acceptance via XpayCash would let Farmarket offer the most advanced payments technology present in the market.

Ryan Taylor, Dash Core Group’s CEO, said in a statement that Dash users could now make payments for medicines and essential products at a trusted and well-known pharmacy brand. Continuing further, Taylor added that they expect their alliance with Venezuela’s Farmarket and Panda in Columbia to be a significant step towards a purchase-driven economy where Caracas’ Venezuelans would be capable of making in-store payments in Dash. In addition to that, Venezuelans’ relatives in Columbia or anywhere else would also be able to purchase medicines from overseas and sort out health problems for their loved ones and relatives.

The press release also highlighted the fact that out of around 4,900 merchants accepting Dash across the globe, nearly 50 percent are situated in Venezuela. Much of it has become possible due to the efforts put in by DiscoverDash that started by providing smaller firms, as well as family-owned entities, with Dash training. However, it has grown considerably in attracting more established enterprises.

Farmarket caters to both corporate and individual clientele with its variety of more than 11K products, including pharmaceutical products, services, personal care supplies, and much more. It serves more than 250,000 consumers per month.

As per the announcement, the group has planned to roll out the new payment system to its whole retail chain before the end of this year.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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