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Author Topic: South Africa's Super market started accepting bitcoin  (Read 900 times)
Lpim01
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September 21, 2017, 11:21:06 PM
 #21

We will all agree that it is a great news for everyone. Many countries are starting to adapt bitcoin already. Even the fresh news in the Philippines that BSP is already adapting and were open to the view of using bitcoin as mode of payment not just for bulky goods but for retails as well. If there will be more countries adapting bitcoin the price will also rise.
Adoption of this great technology in different countries is a big contribution towards bitcoin as it spread to all over the world. Not only for the big countries but it also in small countries as they partake this kind of generation. This is big chance for the people of Africa to enjoy their life with bitcoin, to experience like the other countries did.
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September 21, 2017, 11:53:11 PM
 #22

That's a good news, with more countries and brand stores accepting bitcoin as payment. One such has happened in South Africa at present. Previously one of the largest retailer of Russia started accepting bitcoin. Hope the same will continue providing more circulation of bitcoin and make it more popular.
It is totally a great information for everyone and investors to put there money into bitcoin for long term investment.
As more countries coming on bitcoin world probably it could be a stepping stone towards its goal as become a new currency that is widely used by the people. Not for online only but it could be happen in local transactions in any establishment.


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September 21, 2017, 11:59:11 PM
 #23

Yes, people in South Africa could easily to spend bitcoin and purchase some goods, it can be implemented as supported from electrum and luno exchange. Since bitcoin rice always fluctuate, a supermarket need third party to make sure every bitcoin transaction could be converted into fiat currency immediately to prevent a big loss if bitcoin price decline significantly.
Whenever bitcoin price increase mean; people will doubt to spend their bitcoin as the value is growing, but if the price declining; it's a loss for merchants/stores/supermarket to accept bitcoin payment. Bitcoin volatility is double edge sword.

 
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September 22, 2017, 02:26:45 AM
 #24

How they are accepting the Bitcoin payments? I don't think that they will be OK with direct Bitcoin payments, as it takes 30-40 minutes to get the necessary 3 conformations. So the only option is to use a third party processor such as Bitpay or Coinbase.

 
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September 22, 2017, 04:27:14 AM
 #25

Although I don't use my BTC to spend on daily expenses, I think that this would be convenient for the bitcoin users in South Africa when a day comes that they do not have cash to spare. If this were to be true, then this must mean that there are many bitcoin users in that area for an adoption like this to take place. Other countries have been taking various steps on adoption lately.
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September 22, 2017, 05:42:43 AM
 #26

How they are accepting the Bitcoin payments? I don't think that they will be OK with direct Bitcoin payments, as it takes 30-40 minutes to get the necessary 3 conformations. So the only option is to use a third party processor such as Bitpay or Coinbase.

I guess that using those third party might be expensive much for that,  because of the fee charges when payments will be processed. It's not a bad idea of waiting for that less than an hour, maybe we have the options to wait further or must make and advance payment transactions. Those people should be able to adopt the current system that really involved time as well.
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September 22, 2017, 05:55:12 AM
 #27

That's really a great news.Previously,russian largest retailer giant Ulmart started accepting bitcoins.The field of retail markets is a highly competitive field and they offer new facilities to attract customers.Bitoin being getting more popular nowadays,super market chains have realized that they could not avoid bitcoin any more and they try to become pioneer in accepting bitcoin payments.Definitely,its another progress in recognizing bitcoin.More people who have not yet known bitcoin would also start knowing about it by seeing such offers.
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September 22, 2017, 05:56:29 AM
 #28

South Africa's second-largest supermarket chain tested bitcoin payments earlier this year – but it doesn't plan to roll out the option to its stores anytime soon, according to its CEO.

Pick n Pay, which operates in a number of African countries as well as South Africa, piloted a payment system in partnership with startups Electrum and Luno. That initiative was limited to a staff cafeteria, CEO Richard van Rensburg told BusinessDay in an interview, and is no longer active.

As for when the supermarket chain might expand the option to an actual storefront, van Rensburg demurred, pointing to a difficult regulatory environment as the root cause for hesitation.

Courtesy: Coindesk

Soon it will become in regular usage SA cities. Even you can expect bitcoin will be adopted in Wall mart, AL-Ghurair and many more soon.

Pass your suggestions about the super markets need to accept the bitcoin according to your view.
Good news, testing is needed everywhere not only in South Africa. Now this is not a country where there is a lot of money, but the beginning for Africa is laid. The next market will start in Latin America, continue to popularize the crypto currency.
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September 22, 2017, 06:18:22 AM
 #29

South Africa's second-largest supermarket chain tested bitcoin payments earlier this year – but it doesn't plan to roll out the option to its stores anytime soon, according to its CEO.

Pick n Pay, which operates in a number of African countries as well as South Africa, piloted a payment system in partnership with startups Electrum and Luno. That initiative was limited to a staff cafeteria, CEO Richard van Rensburg told BusinessDay in an interview, and is no longer active.

As for when the supermarket chain might expand the option to an actual storefront, van Rensburg demurred, pointing to a difficult regulatory environment as the root cause for hesitation.

Courtesy: Coindesk

Soon it will become in regular usage SA cities. Even you can expect bitcoin will be adopted in Wall mart, AL-Ghurair and many more soon.

Pass your suggestions about the super markets need to accept the bitcoin according to your view.

A lot of business have considered the potential in bitcoin but all they do is to give false hope without either not having a road map to its implementation or not putting a date to when they want to start. And the reason is not far fetched, let government gives approval for this even as alternative currency, every company will fall in line but until we see that, everything else is speculation.
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September 22, 2017, 07:30:01 AM
 #30

Step by step bitcoin will really reach every establishment that is selling their services in the world it is just a matter of time until it will happen. It is quite ironic that South Africa is recognizing the potential of Bitcoin and already uses it as a legal tender to their super market there I hope that it will be a nationwide implementation so that other neighbor countries will follow this king of actions.

I can't really imagine what will happen to the price of bitcoin if all of the biggest and well known super market will really recognize it as a payment to their product, maybe one day the price of a single bitcoin will reach a million, who knows.

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September 22, 2017, 07:39:54 AM
 #31

South Africa's second-largest supermarket chain tested bitcoin payments earlier this year – but it doesn't plan to roll out the option to its stores anytime soon, according to its CEO.

Pick n Pay, which operates in a number of African countries as well as South Africa, piloted a payment system in partnership with startups Electrum and Luno. That initiative was limited to a staff cafeteria, CEO Richard van Rensburg told BusinessDay in an interview, and is no longer active.

As for when the supermarket chain might expand the option to an actual storefront, van Rensburg demurred, pointing to a difficult regulatory environment as the root cause for hesitation.

Courtesy: Coindesk

Soon it will become in regular usage SA cities. Even you can expect bitcoin will be adopted in Wall mart, AL-Ghurair and many more soon.

Pass your suggestions about the super markets need to accept the bitcoin according to your view.

Can you post the link of this news? I'm not familiar with Pick N Pay since I don't live in South Africa but this is a good news for us as they are now trying bitcoin payments for their business. Once it will be now implemented in the whole South Africa region then this will have a big impact in bitcoin. I guess they are also testing the blockchain technology as it's a very promising network for their business.




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September 22, 2017, 07:45:20 AM
 #32

This is great! .even if still on test pace.this is a good start that will surely give a good sight for every company wanted to adapt bitcoin as payment method.
Does Data and statistic that will be collected can make a huge contribution to make a further study and consider the option to make it on regular basis. I hope it will keep on going and make the operation officially adapt.
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September 22, 2017, 07:50:24 AM
 #33

South Africa's second-largest supermarket chain tested bitcoin payments earlier this year – but it doesn't plan to roll out the option to its stores anytime soon, according to its CEO.

Pick n Pay, which operates in a number of African countries as well as South Africa, piloted a payment system in partnership with startups Electrum and Luno. That initiative was limited to a staff cafeteria, CEO Richard van Rensburg told BusinessDay in an interview, and is no longer active.

As for when the supermarket chain might expand the option to an actual storefront, van Rensburg demurred, pointing to a difficult regulatory environment as the root cause for hesitation.

Courtesy: Coindesk

Soon it will become in regular usage SA cities. Even you can expect bitcoin will be adopted in Wall mart, AL-Ghurair and many more soon.

Pass your suggestions about the super markets need to accept the bitcoin according to your view.

Can you post the link of this news? I'm not familiar with Pick N Pay since I don't live in South Africa but this is a good news for us as they are now trying bitcoin payments for their business. Once it will be now implemented in the whole South Africa region then this will have a big impact in bitcoin. I guess they are also testing the blockchain technology as it's a very promising network for their business.

Me too. But anyways its good to hear that they are slowly adopting bitcoin as for payment, and since it has already started hopefully it will continue more further, hope there is no interruptions in that progress. Considering South Africa accepting bitcoin as payment is really  a huge update.

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September 22, 2017, 07:53:28 AM
 #34

I would also like to see some links for this, South Africa is big country and how can super market start to accept bitcoins if government didn't legalize bitcoin? There is laws and regulations, I think that this decision about bitcoin acceptance is not supermarket and their CEOs. I would like bitcoin to be present everywhere, but we can't rush with some things and after many news here on forum I'm looking for more proofs.
One more thing is bothering me, South Africa wasn't so active in past few years on bitcoin stage, I mean nothing special from them or I'm missing something here. Just one more country like many others, bitcoin didn't have some spacial treatment there as I know.

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rjbtc2017
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September 22, 2017, 08:34:40 AM
 #35

South Africa's second-largest supermarket chain tested bitcoin payments earlier this year – but it doesn't plan to roll out the option to its stores anytime soon, according to its CEO.

Pick n Pay, which operates in a number of African countries as well as South Africa, piloted a payment system in partnership with startups Electrum and Luno. That initiative was limited to a staff cafeteria, CEO Richard van Rensburg told BusinessDay in an interview, and is no longer active.

As for when the supermarket chain might expand the option to an actual storefront, van Rensburg demurred, pointing to a difficult regulatory environment as the root cause for hesitation.

Courtesy: Coindesk

Soon it will become in regular usage SA cities. Even you can expect bitcoin will be adopted in Wall mart, AL-Ghurair and many more soon.

Pass your suggestions about the super markets need to accept the bitcoin according to your view.
This is a good news, We may have a long way to the Mainstream and Global acceptance of Bitcoin, with these steps we can totally create stepping stones for bitcoin's great future. But honestly, In my opinion, despite of this good news one of the problem that may encounter is the volatility of bitcoin and i think the prices should really change based on what the real time price of bitcoin.
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September 22, 2017, 09:10:43 AM
 #36

It is kind of funny to see China imposing lots of rules and regulations and maybe even ban on bitcoin, but other countries are trying to accept bitcoin more and encourage their citizens to spend bitcoin in their daily life. It is good to see more and more countries accepting bitcoin as this will surely help bitcoin usage volume to grow in the future.

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Charisse1229
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September 22, 2017, 09:16:02 AM
 #37

Nice to hear that. Hope other country accepting bitcoin, its so glad to be the part of that. Hope in phillippines accepting bitcoin already to be legal, very glad to be part of this .
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September 22, 2017, 09:24:48 AM
 #38

This is expected because we all know that bitcoin is rocking all of the investors mind. also this cryptocurrency is like a gold wait more than gold, 6000$ before the year ends for sure. invest now and earned later Smiley
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September 22, 2017, 10:45:09 AM
 #39

Nice to hear that. Hope other country accepting bitcoin, its so glad to be the part of that. Hope in phillippines accepting bitcoin already to be legal, very glad to be part of this .
But that just give a little impact to the crypto because the africa was having a little value, i mean in the economic comparing with the EU country or even the US and China market.

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September 22, 2017, 10:49:29 AM
 #40

South Africa's second-largest supermarket chain tested bitcoin payments earlier this year – but it doesn't plan to roll out the option to its stores anytime soon, according to its CEO.

Pick n Pay, which operates in a number of African countries as well as South Africa, piloted a payment system in partnership with startups Electrum and Luno. That initiative was limited to a staff cafeteria, CEO Richard van Rensburg told BusinessDay in an interview, and is no longer active.

As for when the supermarket chain might expand the option to an actual storefront, van Rensburg demurred, pointing to a difficult regulatory environment as the root cause for hesitation.

Courtesy: Coindesk

Soon it will become in regular usage SA cities. Even you can expect bitcoin will be adopted in Wall mart, AL-Ghurair and many more soon.

Pass your suggestions about the super markets need to accept the bitcoin according to your view.

I think that Bitcoin being accepted to South africa is a cery good thing it can at least in a way save the landscape of what china has done to erase bitcoin with its banning and closing of borders. And also this might be a stepping stone for other countries to start looking at bitcoin.

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