South Africans can now pay with cryptocurrency — including Bitcoin, stablecoins, and more — at over 650,000 merchant locations across the country through a new partnership between Scan to Pay and MoneyBadger. The integration allows users of major exchanges (Binance, Luno, Blink, VALR) to make purchases at stores like Shoprite, Makro, Vodacom, and several others via QR-code at checkout, while merchants receive settlement in South African rand.
What’s New & How It Works
- The Scan to Pay + MoneyBadger integration lets users link their crypto wallets (or exchange/Lightning accounts) to Scan to Pay. At the till, they scan a QR code, choose which crypto to use, confirm, and the transaction goes through.
- Merchants don’t need extra infrastructure beyond what is already required for Scan to Pay. The backend handles the crypto-to-rand settlement so that merchants are insulated from crypto volatility.
Scope & Scale
| Metric | Detail |
|---|---|
| Number of stores/merchants | ~650,000 Scan to Pay-enabled outlets; when combined with Luno Pay’s existing merchant base (≈30,000), the total reach is nearly 700,000 merchants. |
| Supported crypto assets | Bitcoin (BTC), stablecoins, and other digital assets supported by partner exchanges. |
| Settlement currency | Merchants receive payments in South African rand; users conduct payment using crypto but don’t need to manually convert. |
Retailers & User Experience
- Retail chains like Shoprite, Checkers, Makro, Vodacom are included among the merchants accepting crypto via this rollout.
- For consumers, the experience is similar to using a digital wallet + QR code. You open your wallet/exchange app, scan the QR at the checkout, select the crypto, confirm payment.
- The user does not need to convert crypto to rand first. The system handles the conversion behind the scenes, which reduces friction and risk.
Why It Matters
- Mainstreaming crypto payments: Moving beyond niche/online uses, this brings crypto into everyday retail for many South Africans.
- Financial inclusion: People who hold crypto can use it directly without going through exchanges or withdrawing to bank accounts. Cointelegraph
- Merchant advantages: No extra setup, minimal exposure to volatility (settlement in rand), and access to more payment options for customers.
Challenges & Considerations
- Regulatory environment still evolving: While crypto assets are more regulated now, there could be tax, legal, and compliance complexities for users and merchants.
- User education & trust: Many consumers may not be familiar with crypto payments; trust, simplicity, and transparency will be key.
- Crypto volatility risk (for users): Even if merchants are protected, users paying with crypto still face value fluctuations between payment initiation and confirmation.
- Infrastructure & adoption consistency: While many stores are enabled, awareness among staff, consistent QR code implementation, and reliable app experience will affect usage.
Implications & What’s Next
- Likely increases in everyday crypto spending: groceries, telecom, fuel, etc., rather than just investment/speculation.
- More exchanges & wallets may build support or optimize integration for this model.
- Possibility of rewards or incentives (e.g. cashback in stablecoin or crypto) to encourage usage.
- Other African countries may look to this model as a template for scaling crypto payments.
Conclusion
The rollout of crypto payments at over 650,000 stores via Scan to Pay is a major leap forward for South Africa’s digital economy. It bridges gaps between crypto holding and real-world spending, making it much easier for everyday consumers to use their digital assets. If adoption continues smoothly, this could redefine how many people think about money, payments, and value in South Africa.
