Central SA
Consumers may soon pay for groceries using cryptocurrency─── BAMBATHA GIKO 15:35 Thu, 03 Nov 2022
Consumers can soon use cryptocurrency to pay for groceries at their local Pick n Pay stores. The retailer has announced the successful completion of the first phase of their pilot project to allow payments via bitcoin and similar currencies.
This new payment method will allow customers to pay at till points with any Bitcoin Lightning-enabled app such as BlueWallet or Munn that allows bitcoin transactions between parties not on the blockchain networks, and make it faster and cheaper.
The Financial Sector Conduct Authority (FSCA) recently declared cryptocurrency assets as a financial product and mainstream method of payment.
The service fee per transaction will reportedly be a minimal 70 cents. The transactions are as secure as swiping a debit or credit card.
The pilot project is as yet only available in ten Western Cape stores.
