VALR, the largest South African crypto exchange, has partnered with CryptoConvert to introduce VALR Pay at all Pick n Pay tills across South Africa. This partnership enables VALR customers to use Bitcoin for purchases at Pick n Pay, one of the largest supermarket chains in sub-Saharan Africa, through the VALR mobile app.
VALR, established in 2018, has processed over $10 billion in trading volume and raised $55 million since its launch. With half a million retail customers and over 800 corporate and institutional clients worldwide, VALR offers cost-effective trading of Bitcoin and other cryptocurrencies.
The introduction of VALR Pay in June 2021 marked a significant milestone, allowing VALR customers to execute instant payments in cryptocurrencies or South African Rand to any cell phone number, email address, or VALR Pay ID without fees. Now, in collaboration with CryptoConvert, VALR Pay has been upgraded to ensure compatibility with the crypto QR technology facilitating Bitcoin acceptance at Pick n Pay tills nationwide.
Initially accessible to Android users directly from the VALR App, the feature will soon be rolled out to iOS users. In the interim, iOS users can still make use of VALR Pay at Pick n Pay by downloading the CryptoQR app and setting VALR Pay as their default wallet.
Blake Player, VALR’s Head of Growth, expressed enthusiasm about the partnership, emphasizing its potential to broaden crypto payments’ reach in South Africa. He noted, “It opens up crypto payments to a much wider audience than what was previously possible in South Africa.”
VALR Co-Founder and CEO, Farzam Ehsani, spoke about the company’s vision for VALR Pay, stating, “When we developed VALR Pay, our vision was to first create free, fast, and easy peer-to-peer payments and then to facilitate payment acceptance at merchants. The acceptance of VALR Pay at over 1,500 Pick n Pay stores across South Africa brings this vision to fruition.”
CryptoConvert, a leader in secure and straightforward crypto payment acceptance, is at the forefront of this partnership. The company focuses on direct payment solutions, as opposed to voucher-based methods. Earlier this year, CryptoConvert introduced its Lightning payment platform nationally with Pick n Pay, and it has been testing an online e-commerce payment solution with select partners. By collaborating with VALR Pay, CryptoConvert aims to enhance and expand its payment services to a wider consumer base.
Carel van Wyk, Founder of CryptoConvert, noted, “This partnership with VALR enables us to make crypto payments available to a much larger audience than before. Cryptocurrency is founded on the idea of open standards and collaborative innovation. VALR’s commitment to providing useful tools and infrastructure to the industry exemplifies that, to the benefit of everyone.”
