South Africans can now pay with crypto at 700 000 merchants using Luno Pay

In a groundbreaking development for digital finance enthusiasts, South Africans can now seamlessly pay with cryptocurrency at nearly 700,000 merchants nationwide, thanks to the expansion of Luno Pay.

This innovative service, available at all Scan to Pay-supported locations, integrates Luno's existing network of over 30,000 merchants alongside an impressive 650,000 merchants introduced by the Scan to Pay initiative.

The joining forces of these vast merchant networks enable South Africans to utilize cryptocurrency at major household retailers, including names like Checkers, Makro, Vodacom, and Shoprite.

This pivotal move marks a significant step towards mainstream cryptocurrency adoption, showcasing a new era where digital currencies are increasingly recognised for everyday transactions.

Amidst the excitement, Luno Pay users will also enjoy the added benefit of earning up to 10% back in Tether (USDT) instantly with every transaction made in USDT at these participating merchants. Tether, a stablecoin tethered to the US dollar, offers assurance and stability, making it an attractive choice for consumers.

Christo de Wit, Luno’s South Africa Country Manager, expressed enthusiasm about this major leap in digital payments.

“We're moving from niche acceptance to the mainstream, giving our users the freedom to spend their crypto anywhere they shop while also earning meaningful rewards. Luno is making crypto payments as simple as traditional card transactions, but without extra fees, yet with the added flexibility of paying directly from over 50 different crypto assets and the benefit of instant USDT rewards,” he stated.

Since its inception in November 2024, Luno Pay has already showcased impressive traction, having processed over 48,000 payments across more than 1,600 merchants, accumulating a transaction volume of over R28 million. Notably, the service enjoys high customer retention, with 70% of users being repeat customers, indicating a strong acceptance and reliability of the platform.

The integration of Luno Pay with existing payment structures means that merchants can tap into cryptocurrency payments without incurring significant technical changes or costs. For consumers, making a purchase is straightforward: simply scan the QR code at checkout using the Luno app, confirm the payment details, and choose the cryptocurrency to complete the transaction. The rewards in USDT are applied automatically, enhancing the user experience.

This leap forward positions Luno Pay at the forefront of South Africa’s digital payment landscape, enabling users to confidently engage in daily purchases—from groceries and electronics to telecom services and online shopping.

Access to the extensive network of Scan to Pay merchants has been made feasible through the collaboration with Luno’s payment partner, MoneyBadger. Carel van Wyk, co-founder and CEO of MoneyBadger, noted, “South Africans are increasingly moving from holding Bitcoin as an investment vehicle to using their Bitcoin for day-to-day expenses. This move expands the number of places where South Africans can pay with Bitcoin significantly, and we believe it will benefit everyone.”

BUSINESS REPORT