South Africa's Super market started accepting bitcoin - page 2.

Persiville

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Quote from: batang_bitcoin on September 22, 2017, 02:39:54 AM

Quote from: reflector on September 20, 2017, 07:12:18 AM

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 That initiative was limited to a staff cafeteria, CEO Richard van Rensburg told BusinessDay in an interview, and is no longer active.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.

Emworks

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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.

batang_bitcoin

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Quote from: reflector on September 20, 2017, 07:12:18 AM

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.

jekjekman

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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.

olushakes

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Quote from: reflector on September 20, 2017, 07:12:18 AM

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.

TommyAMD

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Quote from: reflector on September 20, 2017, 07:12:18 AM

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.

ekoice

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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.

Gaff

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Quote from: Sithara007 on September 21, 2017, 09:26:45 PM

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.

orions.belt19

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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.

Sithara007

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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.

error08

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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.

Yamifoud

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Quote from: oegarod on September 20, 2017, 07:20:39 AM

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.

Lpim01

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Quote from: Quietman on September 20, 2017, 08:21:47 AM

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.

nejibens

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This is very good news. Such great marketplaces have really big community related with them and they will start spreading the word even more about Bitcoin and starting using it. Many merchants will start dealing with Bitcoin as well and bitcoin's community will grow up

949miner

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Maybe those are false news, but it would be amazing to see bitcoin in supermarkets, or just be able to pay directly with your wallet, it would be a very good idea to develop. But it is easy to do the same with btc's debit card, so i dont think we are still far away from that idea.
Anyways, it is good to see this kind of news

StonedWolf

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Please stop posting tose information because they made me realise how Backwardness we're !
Because my country needs more than houndread years to have such supermarket, and even it happens, it won't success because we are part of the third world.

Mometaskers

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Quote from: liuqi on September 20, 2017, 12:31:54 PM

Quote from: Mometaskers on September 20, 2017, 12:26:21 PM

Well at least they tried. It's a good start that they actually considered it. It may not be soon enough but since they tested it, there's always the possibility that they'll implement it. And that's what's important. Might not push through, but at least people there have now heard of bitcoins.

They have tested because they understand the potential of bitcoin and other altcoins but still many people does not aware of crypto coin and there is digital currency presence in the world. We need to wake them all up first and spread about bitcoin to society and make them understand.

Trends seem to flow from top to bottom. If they implement this to attract the few people who do use bitcoins, then it might catch on with the general public.

Of course for it to make good business sense, there must be enough users to be worth spending on this (like how really small business don't have credit card terminals and only accept cash).

Bolt Brownie

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Also read the news saying that they are not planning to actually implement this in the short run, but it's definitely good to see that they did it, and that their consider it was quite a positive test. From what I read, they will not adopt BTC right now as a normal payment method, because crypto is still not regulated, and not because the test went wrong.
This proves that using BTC to buy goods is viable, and merchants are interested in doing it. So if they get regulated everything will work just fine.

Siren

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Quote from: Mometaskers on September 20, 2017, 12:26:21 PM

Well at least they tried. It's a good start that they actually considered it. It may not be soon enough but since they tested it, there's always the possibility that they'll implement it. And that's what's important. Might not push through, but at least people there have now heard of bitcoins.

There's no harm in trying so I guess its a brave moved on their part. Its like they are doing alpha testing itself and see how the market will react, if they see that there's a big possibility that it will benefit their customers as well as business wise, they will go with it. Otherwise it will still take years for merchants to really accept bitcoin as payment mode. Another positive things that can come out of this is that bitcoin will somehow gain traction among its customers so its gonna be a win win situation for both parties. Let's see how things work out in South Africa.

lanyounanhai

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Nice. It is a good news for us since we know that South Africa is a good country with a suitable population. They can make bitcoin greater due to many reasons. The people here are very smart and well-educated too. The more countries support bitcoin, the higher the price will be

Topic: South Africa's Super market started accepting bitcoin - page 2. (Read 1109 times)