South Africans are embracing cryptocurrency for everyday transactions, with over R20 million processed through <a href="https://www.luno.com/en/pay">Luno Pay</a>, a retail crypto payment feature offered by the cryptocurrency platform Luno since its launch in November 2024. The platform now processes around R2 million in transactions each month, noting the growing adoption of cryptocurrency across retailers, service providers, and consumer spending in South Africa. <h2><strong>Luno Pay data shows rising use in South Africa</strong></h2> According to Christo de Wit, South Africa country manager at Luno, this growth underscores a broader acceptance of crypto in mainstream business. “Appetite for digital currency transactions in everyday commerce is growing,” said de Wit. “The wide transaction spectrum indicates that cryptocurrency payments are becoming more common for both everyday purchases and significant expenses.” Meanwhile, Luno Pay data reveals growing usage, driven by its integration with payment providers like Zapper, Stitch, and FiveWest and support from major merchants in the country, including Dis-Chem, GeeWiz, One Day Only, and more. “Our data shows that many customers use Luno Pay regularly for routine purchases and services,” added de Wit. South Africa stands out in Africa’s growing digital finance ecosystem, which has seen a surge in stablecoin use and local fintech innovation. In 2024 alone, over 31,000 merchants in the country accepted crypto payments, and South Africa received the second-highest volume of digital assets on the continent, behind Nigeria. Notably, over 80 percent of users are weekly repeat customers, indicating that cryptocurrency is no longer just a novelty or niche tool; it’s becoming a trusted payment method. “The consistent usage patterns we’re seeing indicate that crypto payments are moving beyond novelty,” de Wit emphasised. “We’re building the infrastructure for a future where cryptocurrency seamlessly integrates with traditional commerce, giving consumers choice and flexibility in how they pay.” <h3><strong>The platform leading the digital payment shift</strong></h3> Launched exclusively in South Africa, Luno Pay is reshaping how locals interact with their digital assets. By scanning QR codes at Zapper-enabled stores or online retailers via Stitch and FiveWest, users can now pay with cryptocurrencies directly from their Luno wallets. Major supermarket chain Pick n Pay remains the platform's largest merchant partner, serving as a visible symbol of its everyday relevance. The platform is simple and rewarding. It offers 10 percent USDT cashback at Zapper-enabled merchants and up to 5 percent with other supported cryptocurrencies. Additionally, Luno Pay operates with a zero service fee policy. “Luno Pay was created so that Luno customers can use their crypto beyond investment,” said de Wit. “South Africans are clearly ready to embrace crypto payments for everyday transactions – an indication that cryptocurrency is evolving from a speculative asset to a practical payment method integrated into daily life.” Importantly, refunds on returned items are issued in South African Rand, further easing the transition between crypto and fiat in daily spending. Lastly, with reliable backend partners such as MoneyBadger, Zapper, Stitch, and FiveWest, payments are processed instantly, just like card transactions, without the delays of blockchain confirmations.
