Brazil's fifth-largest city to accept bitcoin payments for public transportation

Bitcoin • July 29, 2019, 3:56AM EDT
UPDATED: July 29, 2019, 10:21AM EDT
The Block

Fortaleza, the fifth-largest city in Brazil with a population of about 2.7 million, is set to accept bitcoin (BTC) payments for public transportation by the end of this year.

Local news outlet O Povo reported the news late last week, saying that the Ceara State Co-operative Autonomous Passenger Co-operative (Cootraps) will provide Fortaleza citizens the option to buy bus tickets using bitcoin, credit and debit cards, in addition to the current cash system.

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The newer payment options are reportedly aimed at attracting more users and reducing bureaucracy in the system. "This is a way of reducing bureaucracy, even bringing more users into transport. We expect a larger flow of people, we will make it easier for users," said Carlos Robério Sampaio, chief financial officer of Cootraps.

Users will be able to pay for tickets through a mobile application and a QR code, per the report.

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