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Online Retailer Pick n Pay to accept Bitcoin: South Africa

Nothing seems than a greater win for Bitcoin, the Cape Town’s Pick n Pay to accept Bitcoin payment from today.

For a time being, head office campus store of Pick n Pay, customers were using Bitcoin to purchase groceries and services.

Electrum, a software platform created to process payment in different currencies. As this payment system is powered by the particular platform.

IS executive at Pick n Pay, Jason Peisl says,

“At Pick n Pay one of our key values is to embrace change and encourage innovation and leadership. Cryptocurrency and Bitcoin are still relatively new payment concepts, yet we have been able to effectively demonstrate how we are able to accept such alternative payments”.

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Also Read: “Balanced Approach” by South Africa in regards to Bitcoin and Cryptocurrency Regulations

A Cloud-based enterprise payment platform is provided by Electrum uses for the transactions. Meanwhile, the bitcoin infrastructure for the project was provided by Luno, a global Bitcoin company. Therefore, it enables South African consumers to easily buy, sell, send and spend Bitcoin.

Widening Acceptance

As the growth of payment methodologies are sustainable, the value of Bitcoin sustains to grow as well. It is an critical aspect of increasing mainstream acceptance and increasing liquidity. Therefore, they are the greater levels of awareness. This process has been refers to “virtuous satoshi cycle”.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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