Pick n Pay, a South African retailer, has launched accepting bitcoin for payments in all of its stores. Previously, a pilot test had been implemented in 39 stores in November 2022. Now, all stores under the Pick n Pay brand will allow customers to use CryptoQR to buy their groceries with bitcoin, according to a advertisement by the payment platform on Twitter.
Customers will also be able to “buy airtime and electricity, plane and bus tickets, and pay their municipal bills with Bitcoin at the checkout.” according to the tweet.
Increased usage at larger retailers like Pick n Pay introduces the concept of spending bitcoin instead of selling it to make it useful for new bitcoin users. By allowing people to spend their BTC, the line between setting aside money for bitcoin and simply using bitcoin as their money becomes blurred. The earlier launch of the pilot program noted that Pick n Pay will charge a small service fee for payments in BTC, “which will cost the customer an average of 70c” of the local currency, or around $0.04 as of November. of 2022.
Pick n Pay has almost 2,000 stores across the country, Business Insider South Africa informed. The firm has a 16% market share in the country’s formal food and grocery sector, according to the report.
The introduction of bitcoin in Pick n Pay stores is likely to have a significant impact on the broader bitcoin payment landscape in South Africa. It could bring the concept of using bitcoin as a form of payment to a broader audience, which could stimulate more widespread adoption of bitcoin use. Furthermore, it could 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 broader adoption of bitcoin payments.
