South Africa Retailer Pick n Pay Now Accepts Payment in Bitcoin at 39 Outlets
Pick n Pay, the South African retailer, has revealed that some of its grocery stores are now accepting bitcoin payments. To ensure payments are affordable, Pick n Pay reportedly uses the Bitcoin Lightning Network which is said to be suitable for “high volume, low-value transactions.” 2017 Trial Served as Proof of Concept The South African grocery retail giant, Pick n Pay, announced on Nov.1, 2022, that some of its stores — about 39 — are now accepting bitcoin (BTC) payments. The retailer also said it plans to enable crypto payments in all its stores....
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Currently 39 Pick n Pay stores are testing the payment method, with plans to roll it out to all stores in the coming months, Sunday Times reports.
"Freedom Day means you are free to use your own money to live your best life," said BitcoinZAR, a Bitcoin advocate in South Africa. On Wednesday, South Africa celebrated Freedom Day, which honors the country's first post-apartheid democratic election in 1994.Cointelegraph reached out to different notable individuals in the South African crypto community to see what the holiday meant to them. BitcoinZAR, a Bitcoin advocate in South Africa, noted that "Freedom Day means you are free to use your own money to live your best life," adding:“We are free on Freedom Day to choose Bitcoin instead of....
The company said it will allow customers to pay with any bitcoin lightning-enabled app and QR codes for speedy payments. Pick n Pay, one of South Africa’s largest supermarket chains, is set to allow its customers to pay for items in all its stores using Bitcoin.According to South African-based tech news outlet Tech Central, Pick N Pay is planning to roll out its cryptocurrency payments service to its stores nationwide in the coming months, after years of experimentation in select stores. The supermarket chain allegedly started experimenting with Bitcoin payments five years ago in Cape....
Werner van Rooyen, head of Business Development and Growth at Bitx, the biggest Bitcoin exchange in South Africa in terms of user base and average trading volume, speaks with Cointelegraph about the penetration of Bitcoin in South Africa. Cointelegraph: How would you evaluate Bitcoin demand in South Africa? Werner van Rooyen: The demand for Bitcoin is based on the potential that the cryptocurrency has; either as an improved payment technology (means of payment) or as an alternative asset class (storage of wealth). CT: Could you paint a vivid picture of the Bitcoin Start-up landscape in....
That being said, it remains up to individual sellers as to what payment methods they are willing to accept. Not that there is any risk for sellers to accept Bitcoin, as Bidorbuy will take care of the acceptance and conversion to local currency. Bitcoin can make a big impact in Africa, as the continent lacks a stable financial infrastructure in most areas. On top of that, most African countries are plagued by hyperinflationary fiat currencies, making it that much harder for people to make ends meet. Now that Bidorbuy accepts Bitcoin payments, the digital currency suddenly becomes more....