In South Africa, a Quick Response (QR) payment app is now able to accept payments in cryptocurrency.

After linking their crypto wallets to the app Scan to Pay, users scan the QR code, check the amount in the app, and click on ‘Pay with crypto voucher’, reports Africa Business Communities.

‘Cryptocurrency payments have the potential to transform the way people transact with lower fees, faster settlement times, and greater financial sovereignty,’ says Tracy-Lee Schoeman, vice-president of loyalty and rewards at Ukheshe, which powers Scan to Pay.

The service is a collaboration between Ukheshe and Web3 payments provider Xion Global, whose technology also ensures the integrity of the crypto transactions.

Introduced in a phased approach, the system will eventually allow multi-blockchain payments and offer cashback rewards, a loyalty programme and discounts at certain merchants, encouraging users to incorporate crypto payments into their daily routines.

3 October 2023
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