Luno partners with Zapper for crypto payments at 31,000 stores

Luno, a South African cryptocurrency exchange, has partnered with Zapper to enable crypto payments at over 31,000 merchants across the country. 

This collaboration is intended to expand the use of cryptocurrency beyond investment purposes and into everyday transactions. 

Tarris Arnold, Luno’s business development manager, emphasized that this partnership brings cryptocurrency usage closer to the goal of making payments for goods and services. 

Arnold noted, “Currently, the primary use of crypto in South Africa is for investment, but expanding its use to a wide range of merchants brings us closer to the idea of using crypto to pay for goods and services.” 

Luno users can now scan Zapper’s QR codes to make transactions at both online and physical locations, with a transaction limit of up to $5,740. 

Mike Bryer, CEO of Zapper, pointed out that this partnership introduces about 5 million South African users to Zapper’s payment system. 

This announcement follows similar efforts in the country. 

For instance, South African exchange Valr recently partnered with online retailer Geewiz to offer crypto payments, and supermarket chain Pick n Pay has seen a rise in crypto transactions since adopting the payment method in 2023. 

South Africa's decision to license crypto asset service providers has had a notable impact on the digital asset industry. 

While the licensing process aims to increase consumer protection, some concerns have been raised about the potential impact on innovation due to the time required for regulatory approvals.