Thanks to the launch of XpayCash pilot program, three stores have begun accepting cryptocurrency payments; additional locations on track to accept Dash this summer
Phoenix — Aug. 26, 2019 — Dash, the top digital currency for payments and e-commerce, announced it has begun serving customers at Farmarket, a pharmacy chain in Venezuela, thanks to the deployment of the XpayCash POS within the first pilot stores. X-Pay is the payment system operated by Panda Exchange and will allow users to pay with Dash with instant transactions, thanks to Dash’s InstantSend technology.
Farmarket is a top pharmacy chain, with 22 locations focused on serving the city of Caracas. The company has experienced tremendous growth since its inception in 2001. Farmarket focuses on retailing pharmaceutical products and services, personal care, supplies, and many other products. The company has grown its brand by constant innovation and adaptation to the needs of the Venezuelan market.
Acceptance of Dash by XpayCash began in the stores of CCCT, Centro Lido and Santa Paula. During the first two months of operation, members of the local Dash team will be on location to support the pharmacy staff and general users in understanding how this technology works and to solve general questions about Dash and the X-Pay cryptocurrency point of sale.
“For Farmarket, innovation supports our core values of serving clients, growth and system development, so being able to offer Dash through XpayCash will allow us to offer the most updated payments technology on the market,” said Cinthya Sagues, General Manager, Farmarket. ”Having the support from the Dash teams directly in the stores will allow us to bring the Dash experience we have seen in many parts of the country into our stores, and we are confident this will translate to a short learning curve and an improved service level to our customers.”
“Enabling Dash payments at Farmarket is a massive step in growing our ecosystem of retailers. Dash users can now pay for essential products and medicines at a well-known and trusted pharmacy brand,” said Ryan Taylor, CEO, Dash Core Group. “We expect our partnership with Panda in Colombia and Farmarket in Venezuela to be a substantial move toward a purchase driven economy, where not only Venezuelans in Caracas will be able to pay directly in stores with Dash, but also their relatives in Colombia and elsewhere will be able to buy medicine from abroad and resolve health issues for their relatives and loved ones.”
Starting August 26, the Dash pilot will be deployed in Farmarket’s top stores in Caracas, with the rollout to the entire chain expected to be complete by the end of 2019, as the retail chain and their users become familiar with the technology and how to properly use Dash.
In order for users to understand how to use Dash and other cryptocurrencies in the XpayCash system, there will be several education activities at the pilot stores throughout August and September 2019, before expanding into more locations. According to Robert Mozo, Partner at Panda Exchange, there will be education and support provided to users, such as the DashHelp line with access directly from the stores as more stores are added into the Farmarket and XpayCash network.
“We have been working with the Dash Core Group for this expansion for quite some time now, and being able to add Farmarket to our customer base will open up a door of opportunity for cryptocurrency adoption in Venezuela and the world,” said Arley Lozano, CEO, Panda Exchange. “Being a Bitcoin advocate and store owner offering Bitcoin payments since 2013, I realized almost nobody was using it to pay because of the difficulties to convert into fiat and getting used to working with exchanges, wallets and more. So we designed XpayCash in a way it offers the possibility to cash out completely or keep a percentage of crypto, in this way merchants can learn about the usability and possibilities of Crypto as they use it.”
Farmarket offers personalized attention to their individual clients as well as corporate ones. Focusing on fast deliveries of their products and services, offering over 11,000 different products and serving over 250,000 customers every month.
Dash is digital cash designed to offer financial freedom to everyone. Dash allows millions of individuals across the globe to carry out instantly re-spendable and secure transactions, with near-zero fees. Built to support real-life use cases, Dash is the leading decentralized payment solution: it is accepted at over 4,900 merchants globally, accessible via 700+ ATMs and 90+ exchanges worldwide. Dash has pioneered groundbreaking features including:two-tier network with incentivized nodes and decentralized project governance (Masternodes), instantly settled payments (InstantSend), instantly immutable blockchain (ChainLocks), and optional privacy (PrivateSend). The Dash Network’s development is supported by Dash Core Group, the largest organization funded by the Dash Treasury, which supports and nurtures the continued worldwide development and integration of Dash. For more information, visit https://www.dash.org/ or follow the organization on Twitter @DashPay.
About Panda Exchange
Panda Exchange is a Latin American exchange platform that specializes in digital assets. The company’s main goal is to provide easy access to this groundbreaking technology for different markets not just in our continent, but also around the world.
For additional information, please follow on social media: @GrupoFarmarket, @Exchange_Panda and @Dashpay
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