Binance moves into retail space through Cryptoconvert’s partnership with Pick n PaySubmitted by: Thembisa Zitho
As the digital payment revolution gains momentum, Binance, the world's leading cryptocurrency exchange, is over the moon to announce its partnership with CryptoConvert which will see its users able to make payments cashless, contactless, and incredibly secure at all Pick n Pay till points.
CryptoConvert partnered with Pick n Pay last year to trial making crypto payments more mainstream, and as of February this year, over 1,500 Pick n Pay stores now accept crypto payments.
Binance says that while they might not be the first to announce this partnership, this move is still a stellar announcement for their users. Why? Because now, anyone can use crypto to buy their groceries at any Pick n Pay outlet. Talk about crypto going grocery shopping! Binance firmly believes that when it comes to partnerships, it's better to arrive fashionably late than to never show up at all. As one of the largest exchanges by volume and the first major crypto exchange to offer the option of buying groceries with cryptocurrency, this move will not only restore trust in the industry but also pave the way for long-term growth.
Hannes Wessels, General Manager for Binance in Southern Africa, highlights the growing trend of adopting cryptocurrency as a mainstream payment method: “The partnership with Cryptoconvert exemplifies the rapidly growing trend towards adopting cryptocurrency as a mainstream method of payment, with nearly 75% of retailers planning to accept cryptocurrency payments within the next two years.”
This strategic partnership signals a significant stride toward cryptocurrency adoption. Binance Pay and CryptoConvert's CryptoQR application enable seamless transactions within seconds.
Carel van Wyk from CryptoConvert says “Our partnership with Binance, one of the largest global exchanges, will enable users to make seamless payments via the CryptoQR app, ensuring swift and efficient transactions in seconds.”
Binance’s Wessels elaborates, “Binance Pay has been designed and evaluated by some of the foremost leading global security experts of our time, ensuring a highly secure transaction process. To safeguard your Binance Pay funds, it's essential to exercise the same caution as you would with your internet banking app."
He also concluded that announcements have no punctuality! Being fashionably late merely means that one stands a better chance of being remembered because, well, your news becomes the last thing people remember, just like the catchy tune you can't get out of your head.
How to pay via Binance Pay
Open the “CryptoQR” application and follow the instructions to link your Binance wallet.When you are ready to pay for your goods at a PnP store, ask the cashier to select the “Contactless QR” payment option (option 2) on the payment device.Scan the payment QR code with the “CryptoQR” app on your phone.CryptoQR will scan the QR code and open your Binance wallet for you to complete the payment.
M&N IndustriesThembisa Zitho
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