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South Africans can now buy crypto instantly

from DION HENRICK in Cape Town
CAPE TOWN – SOUTH Africans can now buy crypto with any debit or credit card on Luno, the country’s largest crypto app.

The instant buy feature is made possible through a partnership with PayU, a Netherlands based payment service provider.

Christo de Wit, Luno’s country manager for South Africa, noted that South African customers have had to first deposit rands into their Luno accounts electronically before buying crypto on the app.

This often came with a waiting period.

Crypto buyers who wanted to make an instant purchase needed to ensure there were cleared funds available in their Luno wallet.

“The instant buy with card function removes the need for the manual transfer of funds beforehand, so crypto buyers can take advantage of crypto price movements in real time. This payment integration is part of our drive to continuously enhance Luno’s products,” de Wit said.

There will be a minimum purchase amount of R15 for instant buys, with a maximum limit of R15 000 for crypto purchases with a service charge of 3,9 percent.

Karen Nadasen, Chief Executive Officer at PayU Africa, promised Luno users to expect a simple, safe, seamless and quick customer experience when using instant buy.

“PayU is thrilled to be working with Luno to make it easier for South African customers to buy crypto on the app,” Nadasen said.

– CAJ News

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