The annual Vilnius City Fiesta in Lithuania this year will feature 250 merchants offering discounts to consumers who use their smartphones to pay for purchases via QR codes, according to multiple reports. 

EVP International, which is behind the payments scheme for the festival, calls the event the first "smart street fair." The company is providing merchants with the means to accept QR code payments and iBeaons so that customers can receive discounts on their smartphones when browsing merchandise. 

Consumers must create a Paysera account to receive offers. Users add funds either through Paysera's website, cash in advance or link a payment card to the account. Paysera will provide special terminals at the market so that consumers can add funds to the account on the go.