File Image: Pick n Pay. Photo: Simphiwe Mbokazi

CAPE TOWN -  In a statement released by Electrum, a South African-based company that provides enterprise software for payments technology has enabled Pick n Pay to accept Bitcoin payments in-store.

The Bitcoin infrastructure for the project was provided by Luno, a global Bitcoin company, active in Southeast Asia and Africa. Luno enables South African consumers to easily buy, sell, send and spend Bitcoin.

 As a result of this innovation project, for a limited amount of time customers at Pick n Pay’s head office campus store have been able to use the Bitcoin cryptocurrency to purchase groceries and services. 

The checkout process is as simple as scanning a QR code using a Bitcoin wallet app on the customer’s smartphone.

Jason Peisl, IS Executive at Pick n Pay, explains, “At Pick n Pay one of our key values is to embrace change and encourage innovation and leadership. To deliver on that promise we are constantly working with our technology partners to find ways in which we can deliver valuable, innovative services to our customers". 

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."

Electrum provided the cloud-based enterprise payments platform used for the transactions.

Electrum MD Dave Glass says, “We’ve worked closely with PnP for several years as a key technology provider. 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, whilst at the same time delivering the best possible shopping experience."

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- BUSINESS REPORT ONLINE