One of South Africa’s leading grocery chains, Pick n Pay has apparently begun accepting Bitcoin Lightning-enabled wallets, such as Zap and BlueWallet, as payment for products.
According to the firm’s press release, this decision “follows the successful completion of the first phase of a new pilot program that enables consumers to pay with cryptocurrencies on their phones using a trusted app,” and the company has chosen to expand the pilot program to “additional outlets.”
It went on to state that making the purchase was as simple and secure as using a credit or debit card. Customers who make purchases using QR codes generated by the app accept the Rand conversion rate shown on their smartphones at the moment of transaction. Each one takes less than 30 seconds to process and costs an average of 70 cents in service fees.
Apparently, Pick n Pay “launched the pilot in 10 Western Cape shops with pre-selected testers over the previous five months,” and the retailer “has now expanded the trial to an additional 29 locations for testing with consumers, with plans to roll it out to all stores in the coming months.”
Chris Shortt, Group Executive: Information and Technology at Pick n Pay, stated: “This innovative technology enables us to provide a low-cost service for high-volume, low-value transactions, therefore promoting financial inclusion in South Africa. This interesting pilot has enormous potential and provides us with an additional avenue to assist and support our consumers.”
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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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