Retailers in South Africa Running for Bitcoin

South Africa’s biggest chain of supermarkets, Pick n Pay, recently declared that it will try Bitcoin in one of its branches and shortly after that announcement, other stores and retail outlets also wanted to join in on this technological advancement.

On top of that, other companies such as OneDayOnly, an eCommerce company, and Takealot.com, through its PayFast feature, have actively been taking Bitcoins respectively.

As a matter of coincidence, OneDayOnly’s announcement of accepting Bitcoins came immediately after the one by Pick n Pay. OneDayOnly also said that they are offering more products with bigger brands and better deals and saving opportunities for customers. This comes in a time when the company consistently doubled its earnings for five years and eventually had to relocate its Cape Town and Johannesburg warehouses to be able to support the growth – which includes staff numbers rising from 40 to 100 within twelve months.

OneDayOnly also went on to admit that for them to progress, it would be in their best interest to adopt Bitcoin.

Pick n Pay’s adoption of Bitcoin sent shockwaves across the Bitcoin community in South Africa and around the world with positive feedback.

Amidst unsure feelings of cryptocurrencies and their use, the deputy chief executive of Pick n Pay, Richard van Rensburg said that the acceptance of digital currencies is safe and has the ability to change the retail industry game. In addition to this, he further went on to state that they had conducted a secure transaction and that cryptocurrencies have no risk of cash or card fraud.

For the short time during the testing at Pick n Pay’s Cape Town head office, they used their Bitcoin at the checkout to pay for their shopping by simply using the Bitcoin wallet on their phones and scanning the given QR code.