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Pick n Pay has partnered with CryptoQR to accept bitcoins at more than 2,000 stores.
Pick n Pay, a South African retailer, has launched bitcoin acceptance for payments across their stores. Previously, the trial had rolled out to 39 stores in November 2022. Now, all stores under the Pick n Pay brand will allow customers to use CryptoQR to purchase their groceries using bitcoin, according to a announcement by payment platforms on Twitter.
Customers will also be able to “buy airtime and electricity, plane and bus tickets, and pay your city bills with Bitcoins at the checkout!” according to the tweet.
Increasing usage at larger retailers such as Pick n Pay introduces the concept of spending bitcoins as opposed to selling them for new bitcoin users to use. By allowing people to spend their BTC, the line between setting aside money for bitcoins and only using bitcoins for your money is blurred. An earlier pilot launch noted that Pick n Pay will charge a small service fee for payments in BTC, “charging customers an average of 70c” of local currency, or around $0.04 in November 2022.
Pick n Pay has nearly 2,000 stores across the country, Business Insider South Africa reports. The company has a 16% market share of the country’s formal food and ingredients sector, according to the report.
The introduction of bitcoin to Pick n Pay stores is likely to have a significant impact on the wider bitcoin payments landscape in South Africa. That could bring the concept of using bitcoin as a form of payment to a wider audience, potentially stimulating adoption of a wider use of bitcoin. Additionally, it may inspire other major retailers to follow suit, further increasing the acceptance and use of bitcoin as a payment method. This could be a big step forward in the wider adoption of bitcoin payments.
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