Cryptocurrency holders will be able to spend AltcoinTrader’s xZAR stablecoin directly at over 650 000 acceptance locations across the payment network thanks to a new partnership between Scan to Pay and AltcoinTrader, which transforms stored digital value into practical, everyday spending power.
The partnership integrates Scan to Pay’s payment functionality directly within the AltcoinTrader app, allowing users to pay seamlessly using AltcoinTrader xZAR stablecoin at the point of transaction.
“The challenge has always been that once you buy Bitcoin or any other cryptocurrency, you’re left holding a store of value, but you can’t easily use it anywhere, so these digital assets are often treated as a store of value, rather than a practical means of payment,” explains Theo Koma, product owner of Scan to Pay. “Bitcoin ATMs exist, to allow cash withdrawals for spending, but the fees are extremely high, and Bitcoin ATMs is very limited. This partnership solves that problem by giving AltcoinTrader users the ability to spend their crypto directly on everyday goods and services.”
The integration creates a familiar payment experience for crypto users. Customers simply open their AltcoinTrader app, select Scan to Pay, scan a QR code at checkout, confirm the transaction amount and complete their purchase. The Scan to Pay system handles transaction processing and merchants receive settlement in ZAR currency, ensuring seamless and efficient processing.
“AltCoinTrader is proud to integrate with Scan to Pay, further strengthening our commitment to innovation and accessibility in the financial sector. This partnership represents an important step in bridging traditional payment solutions with the growing world of digital assets, offering our clients a seamless and secure transaction experience,” says Adam Tavares, chief operating officer of AltCoinTrader.
The process works across both online and physical environments, enabling users to pay for everything from online shopping, groceries and fuel to coffee purchases and even car guard tips. The consumer experience mirrors traditional banking app payments while leveraging cryptocurrency as the funding source.For Scan to Pay, the partnership represents a significant step toward expanding alternative payment solutions.
“This partnership perfectly aligns with our goal to add alternative payment providers who hold billions in stored value and provide consumers with a huge acceptance base to spend,” notes Koma.
The collaboration also opens access to a new customer base for Scan to Pay’s ecosystem.