CryptoConvert has expanded its support for cryptocurrency payments at Pick n Pay by integrating digital currency stored in Binance wallets. This collaboration follows the partnership with South African exchanges Luno and VALR in September 2023, allowing their users to conduct Pick n Pay transactions using cryptocurrencies. Having initially joined forces with Pick n Pay in the previous year for a crypto payments trial, CryptoConvert has facilitated over 1,500 stores to accept cryptocurrency payments since February this year.
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Binance, recognized as the world’s leading cryptocurrency exchange by trading volume, expressed excitement over the partnership with CryptoConvert. This collaboration allows Binance customers to make secure, cashless, and contactless payments at all Pick n Pay checkout points. Although Binance acknowledges it wasn’t the first to announce this partnership, it emphasizes the significance of the announcement for its user base.
To make payments through Binance Pay at Pick n Pay, users need to download the CryptoQR app, link their Binance wallet, and utilize the contactless QR option on payment terminals. Scanning the QR code with the CryptoQR app facilitates the payment process, with CryptoConvert highlighting the efficiency of transactions within seconds.
Binance believes that this strategic partnership marks a notable step toward wider cryptocurrency adoption. As one of the largest exchanges globally, Binance sees this move not only restoring trust in the industry but also paving the way for sustained growth.
Carel van Wyk from CryptoConvert emphasized that the partnership ensures swift and efficient transactions. Hannes Wessels, the general manager of Binance Southern Africa, sees this collaboration as indicative of the growing trend toward cryptocurrency becoming a mainstream payment method. He shared that nearly 75% of retailers plan to accept cryptocurrency payments within the next two years. Wessels also emphasized that Binance Pay underwent rigorous security evaluations, yet customers should exercise the same caution as with their internet banking apps to safeguard their funds.
