VALR, the largest South African crypto exchange by trading volume, has partnered with CryptoConvert to make VALR payments available at all Pick n Pay tills throughout South Africa. This means all VALR customers will be able to use VALR Pay to spend Bitcoin for the purchase of goods and services at Pick n Pay, one of the largest supermarket chains in sub-Saharan Africa, using the VALR mobile app.
VALR, established in 2018, has processed over $10 billion in trading volume and has raised $55 million since launch. It offers its customers the ability to trade Bitcoin and a wide range of other crypto assets at some of the lowest fees in the world. VALR now serves half a million retail customers and over 800 corporate and institutional clients from across the globe.
Since launching VALR Pay in June 2021, VALR has helped its customers make instant payments in crypto or rands to any cell phone number, email address or VALR Pay ID, completely free of charge. VALR Pay has now been enhanced, in partnership with CryptoConvert, to ensure that VALR Pay is compatible with the crypto QR technology used to power the acceptance of Bitcoin at Pick n Pay tills countrywide.
The feature is initially available to Android users directly from the VALR App, with iOS being rolled out soon. iOS users can still use VALR Pay at Pick n Pay by downloading the CryptoQR app and setting their default wallet to VALR Pay.
“We’re excited about this partnership. It is a great leap forward for the utility of VALR Pay. It opens up crypto payments to a much wider audience than what was previously possible in South Africa,” says Blake Player, VALR’s Head of Growth.
By using VALR Pay at the till, customers can use the Bitcoin held in their VALR account to pay directly at the point of sale.
“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.” says Farzam Ehsani, VALR Co-Founder and CEO. “We’ve built a powerful API to enable other businesses, like CryptoConvert, to leverage our technology to create beautiful products and services with us.”
CryptoConvert is a market leader in safe and simple crypto payment acceptance, both online and at the till. They focus on faster, direct payment solutions instead of voucher-based approaches. In February 2023 CryptoConvert rolled out its Lightning payment platform nationally with Pick n Pay, and the company has subsequently been testing an online e-commerce payment offering with selected partners. CryptoConvert partnered with VALR Pay to enhance and expand its payment offering to a broader consumer base.
“This partnership with VALR enables us to make crypto payments available to a much larger audience than before,” said Carel van Wyk, Founder of CryptoConvert. “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.”