South African shoppers now have the opportunity to earn cryptocurrency rewards when making purchases at Pick n Pay using Luno Pay. This promotion, available from 18 November 2024 to 31 January 2025, offers customers the ability to receive up to 10% of their spending back in Tether (USDT) on the crypto exchange Luno.
Any customer that pays with Luno Pay within the next two months will receive rewards in the Tether stablecoin. Customers that pay with Tether will get 10% of that spend back, and 5% if paying with Bitcoin. This is at a minimum spend of R100, and a maximum payout of 50 USDT per 30 days.
Crypto cash at Pick n Pay
Payments are processed through MoneyBadger and rewards are paid out instantly to users’ Luno USDT wallet. The promotion applies to a wide array of items including groceries, clothing, airtime, electricity, travel tickets, and even high-value items like appliances or tech.
The initiative is a collaboration between South African cryptocurrency trading platform Luno, crypto payment processor Tether, and Pick n Pay, using customer rewards to encourage spending with crypto as an alternative. Pick n Pay already follows a similar model with its Smart Shopper rewards program.
Read More: Pick n Pay refreshes Smart Shopper program with new app
Cryptocurrencies have always been keen to play a role in financial inclusion across Africa, where traditional banking services often remain out of reach. Stablecoins like USDT, which is pegged to the US dollar, offer users a more reliable and liquid means of payment, mitigating (up to a point) the volatility often associated with cryptocurrencies.
According to Chainalysis, stablecoins now account for about 43% of Sub-Saharan Africa’s total transaction volume. With a market capitalization exceeding $127 billion, just behind Bitcoin and Ethereum, USDT is among the most widely traded digital assets, underscoring its growing influence in global financial systems.