At the weekend it was revealed that customers could soon be using bitcoin to pay for their groceries at Pick n Pay.

The retailer together with Electrum is currently testing the payment method at Pick n Pay’s head office campus store for a limited time.

“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,” information systems executive at Pick n Pay, Jason Peisl said in a statement.

Payments are handled the say way most real-world bitcoin transactions are handled – by way of a QR code.

The payment platform is provided by Electrum while the infrastructure was the work of global bitcoin firm Luno.

“Our mission is to support innovative enterprises like Pick n Pay, and together we use the advanced Electrum software-as-a-service technology to move quickly on new opportunities,” said Electrum managing director Dave Glass.

With rumours swirling that China will close bitcoin exchanges later this month it’s nice to see a South African firm embracing what could very well be the future of how we all transact.

[Main Image – CC BY 2.0 CafeCredit.com]

 

Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.