South African Payment Processor PayFast Integrates Bitcoin
South Africa-based payment processor PayFast is taking a bold new step. The country's leading payment processor has announced that they have integrated support for bitcoin as a payment option for their more than 30,000 merchant clients. The program - which is currently in beta - will allow merchants to accept bitcoin payments from customers both locally and internationally. And much like BitPay and GoCoin, for example, will instantly convert to local currency once the payment has been completed. It's all coming together thanks to a partnership with South African bitcoin exchange BitX, and....
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There is more good news from South Africa as major payment gateway PayFast enables bitcoin access to over 30,000 online merchants, adding it as a payment option to its platform. The company has partnered with bitcoin exchange BitX to process the payments, allowing sellers to receive South African local currency (rand, or ZAR) and avoid bitcoin price volatility. Jonathan Smit, Managing Director and founder of PayFast, said: "We are not really sure what will happen with bitcoin going forward as it is still early days for the 'currency', but we're interested in contributing to the ecosystem....
Takealot, one of South Africa's largest e-commerce companies, has announced that it is now leveraging online payment processor PayFast's service to accept bitcoin payments. Launched in 2011, Takealot is a prominent company in South Africa's growing e-commerce space, having ranked fourth in a July poll conducted by South African online marketing firm research Columinate. Further, Takealot has raised $100m in funding to date to expand its operations. The company revealed the move to the bitcoin community on Twitter, citing customer feedback in its decision to implement digital currency....
South African payments gateway PayFast added bitcoin as a payment method on its platform in July of last year, partnering with the BitX exchange and allowing buyers to make purchases using bitcoin at over 30,000 online sellers, who receive the South African currency rand in return. CoinTelegraph caught up with PayFast Managing Director Jonathan Smit to find out how it was going so far and what the future holds for bitcoin in Africa. “As far as bitcoin is concerned, remittances are far more interesting due to their transfers being virtually instant and borderless, which is very useful for....
BitX has been building a global cryptocurrency platform that provides Bitcoin products and services — like wallets, exchanges, merchant integration, and APIs — to consumers, businesses, and developers, particularly in emerging markets. The company’s latest decision to launch operations in Nigeria marks another venture into an emerging market. Headquartered in Singapore, BitX’s decision to launch its services in Nigeria is aimed at exploiting Bitcoin’s potential in Africa’s biggest economy. BitX has been focusing on the African continent since its inception; for that purpose, the company....
South African online marketplace Bidorbuy has added bitcoin as a payment option. With the announcement, Bidorbuy, which uses the same business model as e-commerce giant eBay, now allows sellers to enable bitcoin as a payment method for buyers on the e-commerce website, using processing services provided by Singapore-based bitcoin service BitX. Founded in 1999, Bidorbuy is one of the largest South African e-commerce websites attracting some 1.1 million unique monthly viewers and facilitating 80,000 sales monthly. In statements, Bidorbuy CEO Jaco Jonker emphasized that the decision was a way....