South Africans can now use Bitcoin (BTC) to pay for their goods and services.
A grocery, clothing, and general merchandise retailer selling a wide range of products, Pick n Pay is now accepting Bitcoin (BTC) as a form of payment.
According to the tweet shared by the CryptoQR on February 1st, South Africans can now use Bitcoin (BTC) to pay for their goods in 1,628 stores across 39 locations.
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Customers will be able to pay for their electricity or other municipal bills, as well as purchase bus or airplane tickets.
Pick n Pay customers will have to use smartphone apps to scan the QR code and accept the South African rand’s conversion rate. It is estimated that one transaction will cost a customer approximately R0.06 ($0,0035). The price includes network fees and slippage in the Bitcoin exchange rate.
In particular, the transactions will be completed through the Bitcoin Lightning Wallet and CryptoConvert QR scanner. At the checkout, customers will scan a QR code using the CryptoCovenrt app. Then, they will be directed to Bitcoin Lightning Wallet to accept the transaction rate and complete their purchase.
When talking about the necessity to allow customers to pay using Bitcoin, Pick n Pay’s spokesperson noted:
While for many years crypto was something for specialists on their computers, or used by early adopters trying it out, things are changing. 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.
CryptoConvert founder Carel van Wyk also shared the news on Twitter. Under the man’s tweet, several crypto community members were applauding CryptoConvert's collaboration with Pick n Pay, calling it “brilliant news.”
After the news broke, one South African crypto enthusiast ran to the local Pick n Pay and demonstrated to his 400 Twitter followers how the payment system works.
South Africa is not the only country where customers can use crypto to pay for goods and services. Pharmacy and grocery stores in Ukraine are also accepting crypto payments.
