Pick n Pay rolling out crypto payments in South Africa

Pick n Pay has announced that it will now allow transactions via cryptocurrency following the completion of the first phase of a pilot that allows customers to pay for goods with crypto from their smartphone.

This feature is now being tested in multiple stores. The move follows the Financial Sector Conduct Authority’s (FSCA) decision to allow cryptocurrency as a mainstream method of payment.

“Increasingly, cryptocurrency is being used by those under-served by traditional banking systems or by those wanting to pay and exchange money in a cheaper and really convenient way,” said Pick n Pay. “Many companies are responding to this by accepting Bitcoin.”

In its latest pilot, the retailer tested a payment service technology that enables customers to buy groceries with cryptocurrency at till points with any Bitcoin Lightning-enabled app – such as BlueWallet or Muun.

/r/CryptoCurrency Thread Link - businesstech.co.za