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South African Supermarket Chain Pick n Pay Now Accepts Bitcoin Payments: Report

South African Supermarket Chain Pick n Pay Now Accepts Bitcoin Payments: Report

Pick n Pay, one of the largest supermarket chains in South Africa, now allows customers to pay with Bitcoin (BTC) via any Lightning Network-enabled app, according to The Times of South Africa. The payment method has been tested in 10 stores over the past five months and

is now available in 39 stores across the country, according to The Times. The Lightning Network is a Layer 2 scaling tool for the Bitcoin blockchain that reduces the time it takes to send a transaction and is also times cheaper than the Bitcoin manner, making it more attractive to traders.

“The transaction is as simple and secure as a debit or credit card swipe. Customers scan a QR code from the app and accept the Rand conversion rate on their smartphone at the time of the transaction,” said a Pick n spokesperson, Pay. He said in the report, referring to the South African currency. “The service fee for each transaction is minimal, costs customers an average of 70 cents (about 4 cents) and takes less than 30 seconds,” the spokesperson added. According to the report, pick n Payment Plans for Plans to roll out the payment method to all 1,628 stores over the next few months.

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