Pick n Pay said it plans to enable crypto payments in all its stores 'in the coming months.' cryptopayments bitcoin
Pick n Pay, the South African retailer, has revealed that some of its grocery stores are now accepting bitcoin payments. To ensure payments are affordable, Pick n Pay reportedly uses the Bitcoin Lightning Network which is said to be suitable for “high volume, low-value transactions.”The South African grocery retail giant, Pick n Pay, announced on Nov.1, 2022, that some of its stores — about 39 — are now accepting bitcoin payments.
While for many years crypto was something for specialists on their computers, or used by early adopters trying it out, things are changing. The Financial Sector Conduct Authority’s recent announcement paves the way for cryptocurrency as a mainstream method of payment. The retailer also noted that crypto is now being used by the unbanked “or by those wanting to pay and exchange money in a cheaper and convenient way.” According to Pick n Pay, several companies are similarly making it possible for their clients to pay using bitcoin.
To ensure that crypto payments would be affordable, Pick n Pay reportedly chose to use the Bitcoin Lightning Network . By using the LN — a layer two system on top of the Bitcoin network — makes “high volume, low-value transactions will promote financial inclusion” possible, the retailer reportedly said.Tags in this story
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