Pay with crypto put to the test

Thanks to its integration with Zapper, Binance Pay says that it opens up new avenues so that South Africans use cryptocurrencies to shop and pay.

He presented the possibilities during a treasure hunt organized at the V & A Waterfront in CAP recently.

The event brought together influencers from the media and social media to experience the claimed advantages of the new partnership of Binance Pay with Zapper, which was officially announced in early September.

Binance Pay is a contact with contactless cryptocurrency without contactless contact, without border developed by Binance, who says that it is the greatest exchange of crypto in the world.

Zapper is a payment provider that allows customers to pay in store or online with an analysis of a QR code.

The partnership allows customers to use the crypto to buy anything at flights and fuel for furniture and foods by scanning a QR code at the checkout. Deployment is also supported by Moneybadger, a South African Fintech company that simplifies cryptocurrency payments for companies by providing tools to accept, process and settle transactions in digital assets.

Thanks to this partnership, users of the Binance application can pay with a cryptocurrency at more than 31,000 additional merchants.

Yand Nomvete, director of African operations at Binance South Africa, says that the company wants to encourage South Africans to try to pay with Crypto, showing that digital assets are not only an investment, but a useful way to pay in daily life.

During the event, participants could buy items in stores in the seafront using preloaded funds in their Binance portfolios. Users had to tell the cashier that they wanted to pay with zapping, scan the QR code and enter their Binance payment pin.

The goal of the treasure hunt, said nomvete, was to give people the opportunity to see how easy it can be to pay with the crypto. “It’s really simple – just scan, pay and leave.”

“Our collaboration with Binance Pay improves the payment options available for our vast merchant network, facilitating transparent and secure transactions for consumers and businesses,” said Mike Bryer, CEO of Zapper.

In addition to opening new paths so that people can pay by using virtual currencies, hope is that the partnership with Zapper will challenge some of the false ideas and fear that people have about the crypto, said Nomvete.

“I work in this industry for several years. When I started, people were quite frightened by what I did because people had negative perceptions in this space. But through events and partnerships like this, we can change these ideas and make crypto part of everyday life. ”

Addressing Itweb after the event, Nomvete confirmed that, although the adoption of the cryptocurrency for everyday purchases increases, this is not the main user case for most Binance users.

“2024 data from FiveWest shows a 26.5% increase in cryptocurrency transaction volumes in South Africa, highlighting the country’s growing preparation for innovative financial solutions. What we see is a progressive change in crypto being mainly considered as an investment tool, to become a practical means of exchange, the stablecoins playing a key role because of their relative prices stability compared to assets such as bitcoin. »»

But, for many, concerns about the adoption of cryptocurrency remains. These are in particular, she noted, the volatility of the market, the scams and the fraud, security Risks, regulatory uncertainty and irreversibility of transactions.

“Price oscillations in assets like Bitcoin can create uncertainty for consumers and traders, while security challenges, including phishing and fraudulent projects, remain an obstacle to confidence. compliance requirements. “

To respond to these concerns, Binance has implemented a range of guarantees to reduce exposure to price volatility.

Local Fintech integrations, as the Binance have with Moneybadger, allow rand colonies for South African merchants and offer additional protective layers, Nomvete continued.

South Africa, like other development economies, has shown a strong appetite for the crypto, with tens of thousands of new users adopting digital assets in recent months, according to Nomvete. Africa as a whole recorded the fastest relative growth in 2025, with Chain-analysis reporting a 52% increase in chain cryptographic activity, led by Kenya and South Africa.

“The crypto is increasingly used for sending funds, as well as coverage against inflation and volatility of the frames, which parallel to the models observed on other emerging markets.”