PICK N PAY TO ACCEPT BITCOIN SOON

Local retailer Pick n Pay has been testing the Bitcoin Lighting system for a while now and its so impressed that it plans to roll it out nationally soon.

The pilot was conducted at 39 stores and was so successful that it will be deployed across all its stores within the next coming months.

The retailer did its homework as it has been testing the waters with cryptocurrency payments since 2017 when it allowed crypto payments at the head office canteen. While it worked, the technology that was available at the time was too expensive for shoppers. It also took to long to finalise the transaction, making it unsustainable.

Now shoppers simply have to download an app and it takes less than 30 seconds to make the payment.

Business Insider reports that the app, once set up and loaded with bitcoin, can be connected to the CryptoQR scanner app, which in turn can scan a QR code at the point of payment. Then you have to accept the conversion rate from bitcoin to rand that is offered on your smartphone, and you are done.

Image credit: Moneyweb