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South African Retailer Pick n Pay to Accept BTC Payments at over 1600 Stores

After a successful pilot test at 30 stores in November 2022, South African retail chain Pick n Pay has decided to implement acceptance of BTC payments at over 1600 stores across the country. The news was shared by the bitcoin lightning network-compatible crypto payment gateway CryptoQR. “Good news, everyone! CryptoQR 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, CryptoQR tweeted on February 1.    Pick n Pay is South Africa’s third-largest retail store. Customers would need to download a lightning network-compatible app such as Bluu, Muun, or Strike and top it up with satoshis. They also need to download the CryptoQR app and ask for a QR code payment option to make the transaction. 

According to CryptoQR’s CEO Carl Van-Eyck, a typical transaction will take less than a minute to complete and the transaction fee will be around 70 cents. 

However, it is yet not clear if the retail hypermarket chain will allow BTC payment on its mobile Pick n Pay ASAP platform. The app saw over a million downloads last year. The South African government in October 2022 classified cryptocurrencies as taxable financial products subject to regulations under the Financial Sector Conduct Authority (FCSA).

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