Pick n Pay, one of South Africa’s largest grocery retailers, announced on Tuesday that it is expanding a pilot programme to add cryptocurrency as a payment option to more stores following the successful completion of the first phase. Pick n Pay has partnered with Electrum and CryptoConvert on its latest pilot, which comes just weeks after the Financial Sector Conduct Authority formally declared crypto assets as a financial product in South Africa, allowing them to be regulated and paving the way for cryptocurrency to become a mainstream method of payment. According to the company, Electrum’s payment platform connects Cryptoconvert and Pick n Pay, allowing customers to pay with Bitcoin Lightning technology.
