South African crypto exchange Luno has partnered with Zapper to enable crypto payments at over 31,000 merchants. This partnership aims to expand crypto’s use beyond investment and into daily transactions. The partnership is part of a broader trend in South Africa, with other exchanges like Valr and supermarkets like Pick n Pay also accepting crypto payments.
Luno, Zapper Partner for Crypto Payments at 31,000 Merchants
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Crypto: More Than an Investment
South African cryptocurrency exchange Luno has partnered with Zapper to enable crypto payments at more than 31,000 merchants across the country. The exchange said some of the merchants include gas stations and pharmacies.
Tarris Arnold, Luno’s business development manager, said in a report that the company is excited to be one of the first crypto asset service providers to collaborate with Zapper. Arnold suggested the partnership could help dispel the idea that crypto is solely an investment asset.
“Currently the biggest use case for crypto in South Africa is investment, but the ability to pay at such a wide variety of merchants using crypto is a giant step closer to the original vision of using crypto to pay for goods and services,” the business development manager said.
Luno users can now make transactions by scanning the Zapper QR code online or at physical stores, up to $5,740 per transaction. Mike Bryer, CEO of Zapper, said the collaboration with Luno adds about 5 million South African users to Zapper’s network.
The announcement of the Luno-Zapper partnership comes a few months after another South African exchange, Valr, reportedly partnered with the online shopping platform Geewiz to enable crypto payments. The supermarket giant Pick n Pay has seen a surge in crypto transactions since accepting them in 2023.
However, South Africa’s decision to license crypto asset service providers (CASPs) has had a significant impact on its digital asset industry. While intended to provide greater consumer protection and regulatory oversight, some argue that the time-consuming application process potentially limits innovation and competition.
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