Binance, the world’s largest cryptocurrency exchange by volume, is bringing crypto payments into the South African mainstream through its secure, borderless payments platform, Binance Pay.
In a new integration with Peach Payments and MoneyBadger, South Africans can now pay for goods and services using 100-plus stablecoins and other cryptocurrencies at leading online merchants instantly and without gas fees, just as easily as paying with cards or EFT.
“Crypto has matured and now it’s ready to stand alongside traditional payments,” says Larry Cooke of Binance Africa. “This is a breakthrough moment for stablecoins and crypto in Africa, powered by infrastructure that makes them usable, practical, and secure.”
Paying with crypto is simple and seamless for customers. They select “Pay with Bitcoin or Crypto” at checkout, select “Binance”, scan the QR code with their Binance app, confirm the amount, and the payment is processed instantly. Merchants receive settlement in rands the next business day, making it as convenient as traditional payment methods.
This integration is powered in part by MoneyBadger, which processed 19,536 transactions to the value of R7,771,432.17 in the first half of 2025, compared to 13,338 transactions to the value of R5,693,173.10 in the first half of 2024.
A shift to digital platforms
The Online Retail in South Africa 2023 report has revealed critical insights into the rapidly evolving digital commerce landscape. Online shopping among adults grew from 27% in 2020 to 38% in 2022, reflecting an accelerated shift to digital platforms and highlighting the market’s resilience and adaptability. As mobile wallets and pay-by-bank options gain trust, crypto and stablecoins are emerging as part of this new wave of innovation.
Carel van Wyk, MoneyBadger co-founder and CEO, says Peach Payments is a natural fit for crypto payments due to its innovative approach and commitment to technical excellence. “South Africans are increasingly moving from holding crypto as an investment vehicle to using their crypto for day-to-day expenses. We’ve been looking for additional partners to expand into the ecommerce space, and Peach Payments made the most sense for us as a business. Their merchant base is strong and open to adding different payment methods.”
Says Peach Payments’ head of partnerships Anine de Kock: “MoneyBadger is well-respected and established locally, and offers payments via the majority of crypto wallets, which means more choice for consumers.”
She continues: “It is telling that the first purchases done via MoneyBadger on the Peach Payments platform were for spades at a suburban hardware store and light fittings at a well-known specialist lighting retailer, illustrating how mainstream crypto payments are becoming.”
Built directly into Binance, Binance Pay processes transactions instantly and securely, supporting more than 100 cryptocurrencies across 32,000-plus merchants worldwide. Since launch, it has processed over $230bn in payments across more than 300-million transactions, making it one of the most trusted global crypto payment platforms. “This isn’t a trial or pilot, it is proven infrastructure tested globally, now expanding in Africa,” adds Cooke.
About Binance Pay
Binance Pay is a seamless, borderless, and secure cryptocurrency payment feature on the Binance app, allowing users and merchants to pay, send and receive crypto worldwide without incurring gas fees. With support for over 400 cryptocurrencies, it caters to more than 45-million users and 32,000 merchants. Trusted by more than 275-million people across 100-plus countries, Binance stands as the world’s largest cryptocurrency exchange by trading volume and registered users.
About Peach Payments
Peach Payments is a fast-growing African payment solution provider (PSP) that makes offline and online payments easier and more accessible across Kenya, Mauritius and South Africa. The company works with growing enterprises to provide a complete toolkit to accept, manage and disburse payments through point-of-sale, web and mobile. Peach Payments’ merchant partners include your favourite food delivery services, whether you’re ordering in or using a meal kit, travel services that can help you book your next getaway adventure and even your home cleaning service. For these partners and their customers, Peach Payments aims to provide delightful experiences that make it as easy as possible to facilitate payments. Peach Payments recently agreed to acquire West-African payment platform PayDunya, which operates in six Francophone countries: Senegal, Côte d’Ivoire, Benin, Burkina Faso, Togo, and Mali.
About MoneyBadger
MoneyBadger makes Bitcoin payments safe and easy, whether online or in physical stores. Merchants are settled in rands or bitcoin. Its merchant API supports Lightning Network transactions as well as all major wallet providers and crypto tokens they support. Its universal translator app bridges the gap between legacy point-of-sale (POS) systems and bitcoin payments via a QR code scanner.
MoneyBadger was founded in Stellenbosch by industry stalwarts Carel van Wyk (ex-Luno and SnapScan), Carl Kritzinger (ex KnowBe4 and FireWorks) and Brent Petersen (ex Easy Crypto) in 2022. Its first major client was Pick n Pay, which debuted crypto payments in February 2023.
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