A major supermarket chain in South Africa, Pick n Pay, has started a trial to accept bitcoin payments in-store at its head office location. A payment technology company named Electrum provides the payments platform, with bitcoin exchange Luno providing the Bitcoin payment infrastructure.
Pick n Pay Trials Bitcoin Payments
” In what is potentially a world first for a major grocery retailer, Electrum has enabled Pick n Pay to accept bitcoin payments in-store. ”
Electrum provides the cloud-based enterprise payments platform used for bitcoin transactions. It is the first time for the company to provide a bitcoin payment solution.
Founded in 1967, the Pick n Pay group currently employs more than 80,000 people. The South Africa’s Second Largest Supermarket Chain Pick n Pay Trials Bitcoin Paymentscompany sells food, clothing and general merchandise. The group has 1,560 stores in total, located in South Africa, Namibia, Botswana, Zambia, Mozambique, Mauritius, Swaziland and Lesotho. However, the trial is only at the head office campus store in Cape Town where customers can pay for groceries and services using bitcoin.
Pick n Pay executive Jason Peisl noted:
” 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. ”
The bitcoin checkout process involves scanning a printed QR code using a bitcoin wallet app on the customer’s smartphone. The Bitcoin infrastructure is provided by Luno, a bitcoin exchange with a strong presence in Southeast Asia and Africa and an office in Cape Town.
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