Pick n pay completed three months of Bitcoin payment testing phase to accept Bitcoin across the nation.
The Pick n Pay Group is a retail service in the fast-moving consumer goods industry. The Group operates through multiple store formats under 3 brand names, which are Pick n Pay, Boxer, and TM Supermarkets. This service is available at a very big level in South Africa.
On 1 Feb 2023, “Pick n Pay” confirmed that three months of the pilot test program to accept Crypto payments have been completed and now the company accepts Crypto payments in 1,628 stores across the country.
So now Pick n Pay customers can easily use their wallet to scan the QR code to pay for services.
Here Pick n Pay will act as a middle player to facilitate the payments with CryptoQR app easily, so people will be able to use Pick n Pay to pay several types of bills & purchase bus tickets in the country.
To keep the customers away from high bitcoin transaction fees, Pick n Pay accepts Bitcoin via the lightning network. Here Crypto payment system is running technically on behalf of CryptoQR app.
Some Twitter users shared their opinion & experience with this new service and noted that it was cool to see Bitcoin payment at a very big level.
However Cryptocurrencies are not legal tender in this country but still crypto assets are financial products, as per new legislation introduced by the Financial Sector Conduct Authority (FSCA) in Oct of the last year. This legislation over the cryptocurrencies’ nature resulted in a very big benefit for the business because they can receive payments from any country, without any limitation of the fiat currency type.