Grace Ashiru
New data from crypto platform Luno shows that South Africans are now using cryptocurrency to spend more than R2 million ($112,000) monthly on everyday items like groceries, flights, and furniture.
Since the debut of its retail payment solution, Luno Pay, in November 2024, users have processed more than R20 million ($1.1 million) in cryptocurrency transactions highlighting a growing shift toward everyday use beyond mere trading and speculation.
“Interest in using digital currencies for day-to-day spending is clearly rising,” noted Christo de Wit, Luno’s South Africa Country Manager. “Our data indicates that a significant number of users are now turning to Luno Pay for everyday purchases and essential services.”
A large share of these everyday transactions occur at Pick n Pay, Luno Pay’s largest merchant partner. The platform also collaborates with Zapper, making it possible to use crypto at retailers such as Dis-Chem, Hirsch’s, Dial-a-Bed, and One Day Only. Users can now pay for meals at Spur, book flights with FlySafair, and shop online at stores like Loot and YuppieChef—all using cryptocurrency.
Is Crypto Going Mainstream?
With its strengths in cross-border payments and increasing use in day-to-day transactions, global conversations around crypto adoption are gaining momentum.
Circle, the company behind the USDC stablecoin, has launched the Circle Payment Network in collaboration with African financial institutions such as Flutterwave and Onafriq. These partnerships point to a growing role for cryptocurrencies particularly stablecoins in shaping the future of global finance.
In 2024, stablecoin transactions reached a total value of $27.6 trillion exceeding the combined transaction volume of both Visa and Mastercard for the year.
African fintech companies like Juicyway—which has already processed $1.3 billion in stablecoin volume and Due are leveraging this trend by developing cross-border solutions that use stablecoins to tackle remittance challenges and liquidity constraints.
While cryptocurrencies are largely known for simplifying and reducing the cost of cross-border transactions, their adoption for everyday spending is steadily increasing.
In 2024, Luno reported that 31,000 merchants across South Africa now accept cryptocurrency payments. This aligns with the country’s growing crypto footprint, having received the second-highest volume of digital assets in Africa trailing only Nigeria between July 2023 and June 2024.
Luno told Techpoint Africa that more than 80% of Luno Pay users return to make purchases on a weekly basis. This high rate of repeat usage indicates that cryptocurrency is steadily gaining traction as a practical alternative to conventional payment options.
“We’re creating the backbone for a future where cryptocurrency fits naturally into everyday spending,” said de Wit. “Consumers are seeking more options and crypto provides exactly that.”
As infrastructure grows and more retailers adopt it, Luno Pay’s steady rise indicates that cryptocurrency is gradually shifting from a niche idea to a widely accepted payment method in South Africa.
