South Africans now have a new way of using their cryptocurrency to buy goods from several retailers in the country, including MTN, Vodacom, Telkom and Cell C products and services.
A Cape Town-based tech startup, Mommit has launched a blockchain wallet that lets traders spend their cryptocurrency at over 10,000 retailers across South Africa.
According to Biznews, Mommit was initially launched as an NFT marketplace, but it is now a wallet/app that can be used to buy a cryptocurrency voucher called 1Voucher, which is accepted by a all the partner retailers.
Some of the retailers that accept 1Voucher are:
- MTN
- Vodacom
- Telkom
- Cell C
- Pick n Pay
- Dis-Chem
- Total Energies
- Incredible Connection
- Sportsman’s Warehouse
- Cape Union Mart
- Old Khaki
- Poetry
- Mr D Foods
- Uber Eats
- HiFiCorp
Momint joins the likes of CryptoConvert’s CryptoQR platform, which rolled out cryptocurrency payments to 1,500 Pick n Pay stores in February.
However, the CryptoQR platform allows users to spend Bitcoin directly by scanning a QR code.
On the other hand, the Momint app lets users purchase a 1Voucher using their crypto, which can then be used to spend at more than 10,000 small businesses and spaza shops in South Africa.
Users can also spend their cryptocurrency at restaurants, and with Lift Airlines and Intercape to cover transportation fees. It also enables transactions at 5,000 international retailers.
The vouchers can be purchased using Ethereum or USDC.
Once a user has purchased a voucher, they can use the unique 16-digit pin provided to make payments at the designated retail points.
