Luno and VALR expand their payment systems support

[Daniel Puchert]

Crypto payments explosion in South Africa

Cryptocurrency exchanges Luno and VALR have recently expanded the platforms their payment systems support, increasing the number of South African merchants where users can pay with digital assets.

Luno said its customers can now transact using crypto at 31,000 merchants nationwide thanks to a partnership with Zapper.

 

[elvis_presley]

Is anyone actually using them, though? More interesting would be the uptake. A payment gateway adding crypto as an option and that being available to tens of thousands of payment points isn't really the important half of the story.

 

[Petec]

Apart from these exchanges, is anyone actually making money from this, or is it just a convenient service?

 

[treeman]

What about the tax implications of making a purchase using your Crypto wallet...from my vague understanding, converting from crypto is a taxable event, which means a complicated process to figure out which part of what crypto was 'cashed out' and whether there was a gain and therefore subject to either capital gains tax or income tax. A major headache and tax advisor cost and trouble. So for the casual user, this is a minefield of SARS vague rules and has a chilling effect. Do these platforms provide a simple way of working out the "gain" before you press BUY?