Two public transportation companies in Brazil are deciding to start accepting cryptocurrencies for payments. Viacao Garcia and Brasil Sul will now both begin accepting Bitcoin payments for online sales. The companies are already have crypto payment options on their websites. Both Viacao Garcia and Brasil Sul belong to the GBC group.
The companies stated, “The group has decided to use Bitcoin as a means of payment because it’s the most popular digital currency, however, we will start accepting Litecoin and Bitcoin Cash later.” Viacao Garciam, founded in 1934, operates more than 800 buses and boasts of having the best and most famous modern fleet in Brazil.
The businesses explained to their customers how to use Bitcoin to purchase for their tickets. They say, “when choosing the Bitcoin option, the client should open their wallet and scan the code that appears on the site screen.”
After using Bitcoin to buy the ticket, your voucher will forward to your email to confirm payment and shipment. Estefano Boiko, Jr, VP of GBS, shared that the company operations were also fit to be done using cryptocurrencies, adding that the transport sector could not be left behind as other sectors continue to adopt the new technology.
Boiko went further, “Digital currencies are representing changes in financial relationships. They make online purchases very easy. We want to be among other economic and commercial institutions which are now moving towards the digital world.
Businesses & Cryptocurrency
With more companies accepting Bitcoin as a means of payment, they are helping the digital currency go mainstream. Despite Bitcoin being very volatile and unpredictable, many institutional investors seem to be gaining confidence in it.
The sector, however, like other online platforms, has challenges of cybercrime. Even though hackers are struggling to challenge the Bitcoin network, the digital currency is a target through exchanges and individual investors. The young market could grow and become a key payment platform. That said, it will require regulation to ensure that there are no illegal transactions. However, the regulations should not be exploitative since the market is still growing and needs protection.