South African Retailer Pick n Pay Now Accepting Payments via BTC at All Its Stores

Pick n Pay, one of South Africa’s leading retailers, reportedly now accepts bitcoin as payment at all its stores across the country. Using the bitcoin lightning network, Pick n Pay’s customers can now buy items such as groceries, airtime and electricity tokens.

Using BTC for Everyday Purchases

Just a few months after it began accepting bitcoin payments at selected outlets, the South African retailer, Pick n Pay (PNP) now reportedly accepts bitcoin at its more than 1,500 stores across the country. Berichten zufolge, PNP customers can now buy groceries, airtime and electricity using the bitcoin lightning network.

As gemeldet by Bitcoin-Tidings.com News in Nov. 2022, the South African retail giant’s acceptance of bitcoin as a means of payment was made possible by the Financial Sector Conduct Authority (FSCA)’s decision to declare crypto a financial product. Before that, PNP said it had experimented with BTC payments at one of its staff canteens in 2017. While the experiments were successful the retailer said using the technology was at that time seemingly not cost-effective.

BREAKING: 🇿🇦 One of South Africa’s largest retailers, Pick n Pay, now officially accepts #Bitcoin and Lightning payments in ALL of its over 1,500 stores 🙌

— Bitcoin Magazine (@BitcoinMagazine) ein Gesetzesvorschlag, der darauf abzielt, die Generierung und Handhabung von Daten durch die Akteure, die sie nutzen, zu regeln 1, 2023

Reacting to the announcement, Crypto QR, a South Africa-based crypto payments firm, saluted PNP’s move which allows residents to use bitcoin for everyday purchases.

“Good news, everyone! Crypto QR is now active at all Pick-n-Pay stores across South Africa, including PnP express and clothing shops! You can also buy airtime and electricity, plane and bus tickets, and pay your municipal bills with Bitcoin at the till, “Crypto QR said in a tweet.

The Legitimate Use of Bitcoin in a Store

inzwischen, some Twitter users have lauded PNP for taking a step that helps those seeking to promote the use and adoption of bitcoin as an alternative payment method. One user Kelly Yanes said this is the first time she has “seen legitimate uses of bitcoin in person at a public space and store.”

Until BTC stabilizes in price using it to buy things is a horrible idea. Seconds after you buy something it can go up and you overpaid a ton

— NoFilterNoFluff (@7th_Rule) ein Gesetzesvorschlag, der darauf abzielt, die Generierung und Handhabung von Daten durch die Akteure, die sie nutzen, zu regeln 2, 2023

jedoch, a few other users were quick to highlight the disadvantages of using the crypto asset for everyday purchases.

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Terence Zimwara

Terence Zimwara ist ein preisgekrönter Journalist aus Simbabwe, Autor und Schriftsteller. Er hat ausführlich über die wirtschaftlichen Probleme einiger afrikanischer Länder geschrieben und darüber, wie digitale Währungen Afrikanern einen Fluchtweg bieten können.

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