South Africa’s leading retailer, Pick n Pay has just announced that it now accepts payments in bitcoin at all its stores nationwide. With the use of the lightning-fast bitcoin lightning network, customers can purchase a variety of items, including groceries, airtime, and even electricity tokens.
Pick n Pay, South Africa’s premier retailer, has rapidly expanded its crypto payment options! Just a few months after starting to accept bitcoin at select stores, PNP now accepts the cryptocurrency at all its over 1,500 locations nationwide. Customers can use the lightning-quick bitcoin lightning network to purchase groceries, airtime, and even electricity.
As previously reported by Bitcoin.com News in November 2022, Pick n Pay’s ability to accept bitcoin as payment was made possible by the Financial Sector Conduct Authority’s (FSCA) classification of cryptocurrency as a financial product.
Before this development, Pick n Pay conducted successful experiments with BTC payments at one of its staff canteens back in 2017. However, at that time, the retailer deemed the technology not cost-effective for widespread use.
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) February 1, 2023
South African crypto payments company, Crypto QR, celebrated Pick n Pay’s announcement with approval. The move allows residents to easily use bitcoin for their everyday shopping needs.
“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.
Twitter users have applauded Pick n Pay for taking a step towards advancing the use and adoption of bitcoin as a payment option. One user, Kelly Yanes, expressed excitement as it marked the first time she had witnessed the practical use of bitcoin in a public store setting.
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) February 2, 2023
However, some users on Twitter were quick to point out the downsides of using cryptocurrency for everyday purchases.
Joy Rice is a computer science graduate and crypto writer with a strong understanding of blockchain technology. She writes about the latest developments in the crypto industry, and is passionate about educating and informing readers about the potential uses of blockchain.
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