LovCash, a South African blockchain-powered e-commerce and digital payments platform, has launched on Lisk, an Ethereum Layer 2 blockchain.
Announced Tuesday, the move aims to bring blockchain efficiency to a sector employing nearly 20 percent of South Africa’s workforce.
The platform is primarily built to serve small retailers, wholesalers, and informal traders, integrating real-time transaction data, digital payments, and loyalty rewards to offer a modern alternative to cash-based trade across the regions.
LovCash, Lisk partner to upgrade SA’s payment infrastructure
The Lisk’s low-cost and scalable infrastructure will provide the technological foundation for LovCash’s operations in South Africa and beyond. The platform has already onboarded over 3,700 SMEs and formed partnerships with nine of South Africa’s largest wholesalers. Since its relaunch on Lisk, LovCash has recorded 275 percent growth.
“Today, the supply chain is entering the blockchain,” said Costas Constantinou, Founder & CEO of LovCash. “Many businesses throughout South Africa operate in fragmented, cash-dependent environments, with no access to supply chain rewards. With LovCash, we’re replacing cash with a digital-first payment, rewards, and commerce system that enhances trade, benefits, security, transparency, and efficiency.”
The partnership with Lisk is designed not just to upgrade payment infrastructure, but also to provide practical value to both formal and informal supply chain players.
LovCash enables instant cashback rewards, real-time promotional deals, and one-click digital purchases—streamlining operations for businesses with razor-thin margins and limited access to traditional banking services.
According to industry estimates, South African businesses lose over $1.3 billion annually due to cash-related fraud and crime. With blockchain’s transparent and auditable structure, the platform aims to minimise these risks and also delivers critical real-time analytics for fast-moving consumer goods (FMCG) producers, enabling better stock management and demand forecasting.
Dominic Schwenter, COO of Lisk, noted the broader impact of the partnership: “LovCash shows how blockchain can solve real problems beyond crypto trading. By modernizing supply chains in the informal economy, they’re setting a new benchmark for how blockchain can empower businesses and communities in high-growth markets.”
A model for blockchain’s role in emerging economies
LovCash is one of the few African startups to have achieved notable development on the Lisk network, highlighting the potential of targeted, on-the-ground collaborations.
While Lisk has previously invested in African developer education and tooling, direct project partnerships like this one appear to deliver faster, more measurable results.
“By addressing real-world supply chain challenges, they deliver tangible value—streamlining operations for commercial partners, empowering informal market players with digital access, and offering end users secure, rewarding transactions,” said Schwenter.
The success of the platform demonstrates how blockchain can extend beyond speculative trading into sectors with genuine operational bottlenecks.
With Lisk now an investor in the platform, both firms are signaling a more profound commitment to scaling blockchain solutions in high-growth markets, such as South Africa.