Luno Pay Expands to 30,000 Merchants, Boosting Crypto Adoption in South Africa
Luno Pay, a crypto payment platform, has significantly expanded its network, now covering over 30,000 merchants including major retailers like Checkers, Makro, Vodacom, and Shoprite. This move marks a substantial stride in cryptocurrency adoption, enabling users to pay directly from over 50 different crypto assets without extra fees.
Since its launch in November 2024, Luno Pay has processed over 48,000 completed payments across more than 1,600 merchants, totaling over R28 million in transactions. The platform allows users to pay with the flexibility of traditional card transactions, using a wide range of cryptocurrencies.
The integration with Scan to Pay's 650,000 merchants was facilitated by Luno's payments partner, MoneyBadger. This partnership has opened up numerous nationwide payment options for Luno Pay users. Notably, users can earn up to 10% back in Tether (USDT) instantly when paying with USDT at these merchants. This expansion has led to a 70% repeat customer rate, indicating growing acceptance and usage of crypto for daily purchases.
With this expansion, Luno Pay has brought crypto payments into the mainstream, making it easier for South Africans to use cryptocurrencies for everyday purchases. Carel van Wyk, co-founder and CEO of Luno's payments partner MoneyBadger, believes this move will benefit everyone by increasing the places where South Africans can pay with Bitcoin.
