Scan to Pay, powered by Ukheshe, is an important player in the QR ecosystem in South Africa, serving over 600,000 vendors, 14 banks, fintech companies, and 94 payment service providers. This partnership aims to introduce cryptocurrency payment options to a wider audience in South Africa through the Scan to Pay app.
Representatives of Ukheshe, highlight the transformative potential of cryptocurrency payments, offering lower fees, faster settlements, and increased financial autonomy. This move aligns with the growing trend of retailers worldwide, with nearly 75% in the USA planning to accept cryptocurrencies soon, as Ukheshe observes.
Xion officials note that approximately 12.5% of South Africa’s population already owns cryptocurrency, especially among the 18-44 age group. This reflects the increasing popularity of web3 payments for online transactions.
Businesses in South Africa are recognizing the advantages of integrating cryptocurrency payments, with 94% of business owners seeing the benefits. As web3 payments continue to evolve, South Africa is positioned to be one of the top players in Africa’s cryptocurrency adoption.
How will it work?
Users of the Scan to Pay app can expect a user-friendly process for cryptocurrency payments, including one-click transactions. Additionally, Xion Global wants to ensure robust security measures, such as AML, KYC, and KYB, to protect users against unauthorized activities.
This partnership is set to roll out in phases, starting with gasless USDT (Polygon) transactions and expanding to multi-chain payments. Future phases will introduce cashback rewards, loyalty programs, and discounts to encourage users to incorporate cryptocurrency payments into their daily routines.
Ukheshe emphasizes that this partnership aligns with their vision of financial inclusion for all South Africans by merging traditional and web3 payment methods to reduce fees and enhance incentives.
About the companies
Scan to Pay powered by Ukheshe is a QR payment ecosystem in South Africa, serving a vast network of acquirers, PSPs, banks, and merchants, offering secure and convenient payment solutions.
Ukheshe Technologies is a fintech enablement partner, connecting businesses with payment technology that drives digital transactions in emerging markets.
Xion Global aims to revolutionize payment solutions by simplifying payments and rewards, bridging traditional and Web3 systems, and empowering businesses of all sizes. Their vision is to create seamless, secure, and transformative payment experiences.
