The company said it will allow customers to pay with all apps that support Bitcoin Blitz and QR codes for quick checkout.
Pick n Pay, one of the largest supermarket chains in South Africa, is set to allow its customers to pay for items in all of its stores with Bitcoin.
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According to South Africa-based tech news outlet Tech Central, Pick N Pay plans to roll out its crypto payment service to its stores across the country in the coming months after years of experimentation in select stores. The supermarket chain reportedly experimented with bitcoin payments in Cape Town five years ago, but was hampered by high costs and long transaction waiting times.
The national rollout will allow store customers to pay for items with crypto through “trusted apps” on their smartphones or simply by scanning a QR code and accepting the rand conversion rate at checkout.
According to the report, Chris Shortt, Group IT Executive at Pick n Pay, shared that the advancement and evolution of cryptocurrency technology over the years has now made it possible to “provide an affordable service for high-volume, low-value transactions to provide that promote financial inclusion in South Africa.
Pick n Pay reportedly partnered with Electrum and CryptoConvert during their pilot program to make it possible for customers to pay for items via the Bitcoin Lightning Network.
Related: South Africa’s Crypto Landscape Poised for TradFi Growth After FSCA Ruling
South Africa seems to be making strides when it comes to the adoption of cryptocurrencies in the African region. In October, the South African Financial Sector Conduct Authority (FSCA) amended its financial notice to define crypto-assets in the country as financial products, making it possible for licensed South African financial service providers, both nationally and internationally, to offer cryptocurrencies.
Chainalysis’s Global Cryptocurrency Adoption Index 2022, released in September, also ranked South Africa 30th globally for the adoption of cryptocurrencies. Various estimates support the idea that around 10-13% of the South African population are cryptocurrency owners.
