South African grocery store Pick nPay accepts Bitcoin

South African grocery store Pick nPay accepts Bitcoin

One of the biggest South African grocery stores, Pick n Pay, will be accepting Bitcoin from its customers for the purchase of goods in all its stores.

The recent announcement paves the way for cryptocurrency as a mainstream payment method, said pick n pay.

The Financial Sector Conduct Authority, a market regulator in South Africa, has said that cryptocurrencies could be used for payments after it declared them a financial product on the southernmost tip of the African continent.

Pick n Pay added a new feature to the site.

Pick n Pay will be incorporating Bitcoin payments across all stores in the upcoming months and said it has tested a payment service technology that allows customers to buy groceries with cryptocurrency at all cash desks via a wallet that supports Lightning Network, including BlueWallet and Muun.

The Lightning Network on the Bitcoin base network is a layer 2 that speeds up transactions through manifolds and enhances the scalability of the network. The base network is incredibly slow, processing up to five transactions per second.