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Buy from Takealot.com with Bitcoins

23 Jul 2014

Increasing its payment options, Takealot.com, in partnership with PayFast, has announced that it will be accepting Bitcoins as a form of payment from its customers. Bitcoin is software-based payment system or decentralised virtual currency.

The site will continue to display its products and services in South African Rand. Customers who wish to pay using Bitcoin will need to select 'Instant EFT' as their payment method, then select the option to pay with Bitcoin and follow the instructions to complete the transaction. The Bitcoin amount payable for their goods during the checkout process through PayFast and the current Bitcoin/ZAR exchange rate will be shown. The transaction itself takes place on BitX, a South African Bitcoin exchange and, once PayFast receives confirmation from BitX that the funds have been successfully received, the site receives payment for the goods in South African Rand.

The launch of Bitcoin as a payment method follows quickly on the release of another new payment method this week of Masterpass.