The Pick n Pay business group is going to be the first to accept cryptocurrency payments – bitcoin.
Pick n Pay announced on 1 November it will be introducing cryptocurrency as a final product in all its stores after a successful pilot test.
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An initial test was rolled out in the national retailer’s 39 shops across the country over the past five months.
10 stores in the Western Cape participated in the trial.
The Financial Sector Conduct Authority’s recent move to introduce cryptocurrency as a method of payment has influenced the supermarket giant’s decision.
“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.”
According to Pick n Pay, the average cost of a transaction will be 70 cents and will take about 30 seconds.
To make a payment consumers would need to use the Bitcoin Lightning app on their smartphones.
Check out a list of Pick n Pay Stores trading in Bitcoin:
- Langeberg Mall, Mosselbay
- Sedgefield
- Stellenbosch Central and Stellenbosch Square
- Paarl Mall
- Willowbridge
- Local Big Bay
- Table Bay Mall
- Cavendish
- Kenilworth
- Kenilworth Campus
- Kenilworth Pam Golding
- Seapoint
- Waterfront
- Mall of Africa
- Mall of the North
- Mall of the South
- Menlyn Mall
- Nelspruit
- PnP on Nicol
- Liberty Midlands Mall
- The Pavilion
- Tshwane Mall
- Beacon Bay
- Uitenhage
- Bedfordview
- Centurion
- Fourways Mall
- PnP Qualisave Carlton Centre
- PnP Qualisave Diepsloot
- PnP Qualisave Midrand
- PnP Qualisave Rustenburg
- PnP Qualisave Commercial Road
- PnP Qualisave North Beach
- PnP Qualisave The Workshop
- PnP Qualisave Goodwood
- Hyper Bloemfontein
- Hyper Durban North
- Hyper Northgate
- Hyper Ottery
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