"If you can pay using other cryptos, people must like it, but this is already great."
After implementing a three-month trial phase in 39 locations, South African supermarket giant Pick n Pay has finally allowed customers to pay with the cryptocurrency Bitcoin (BTC) in 1,628 of its stores.
Customers can use a smartphone application or QR code if they wish to pay for goods in the digital asset.
However, it should be noted that customers must have a BTC Lightning Wallet and a cryptoQR scanner application from CryptoConvert that is linked to the wallet to make any payment process.
The move comes as the Financial Sector Conduct Authority (FSCA) classifies crypto as a financial product, allowing financial service providers to offer digital assets domestically and internationally, among others.
Among the reasons Pick n Pay also entered into an agreement with Electrum and CryptoConvert during their pilot test is to allow customers to pay through the BTC Lightning Network, a second layer added to the BTC blockchain to allow off-chain transactions.
It is well known that the first trial phase for crypto took place in 2017 when Pick n Pay started accepting BTC as one of the forms of payment in Cape Town, but unfortunately transaction costs and lack of time are challenges they have to face.
For context, South Africa is among the fastest growing countries in crypto adoption, ranking 30th worldwide, where 10% to 13% of its population already holds digital assets.
