Binance Pay hosted a treasure hunt event at the V&A Waterfront in Cape Town.
Through its integration with Zapper, Binance Pay says it is opening new avenues for South Africans to use crypto-currencies to shop and pay.
It showcased the possibilities during a treasure hunt hosted at the V&A Waterfront in Cape Town recently.
The event brought together media and social media influencers to experience the claimed benefits of Binance Pay’s new partnership with Zapper, which was officially announced at the beginning of September.
Binance Pay is a contactless, borderless, secure crypto-currency payment service developed by Binance, which says it is the world’s largest crypto exchange.
Zapper is a payment provider that allows customers to pay in-store or online with a scan of a QR code.
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The partnership enables customers to use crypto to buy anything from flights and fuel, to furniture and food by scanning a QR code at checkout. The rollout is also supported by MoneyBadger, a South African fintech firm that simplifies crypto-currency payments for businesses by providing tools to accept, process and settle transactions in digital assets.
Through this partnership, Binance app users can pay with crypto-currency at more than 31 000 additional merchants.
Yande Nomvete, Africa operations manager at Binance South Africa, says the company wants to incentivise South Africans to try paying with crypto, showing that digital assets aren’t just an investment, but a useful way to pay in daily life.
At the event, attendees could purchase items at stores across the Waterfront using funds preloaded into their Binance Pay wallets. Users needed to tell the cashier they wanted to pay with Zapper, scan the QR code and enter their Binance Pay PIN.
The purpose of the treasure hunt, said Nomvete, was to give people the opportunity to see how easy it can be to pay with crypto. “It’s really simple – just scan, pay and go.”
“Our collaboration with Binance Pay enhances the payment options available to our extensive merchant network, facilitating seamless and secure transactions for consumers and businesses,” said Mike Bryer, CEO of Zapper.
In addition to opening up new avenues for people to pay using virtual currencies, the hope is that the partnership with Zapper will challenge some of the misconceptions and fears people have about crypto, said Nomvete.
“I have worked in this industry for several years. When I first started, people were pretty freaked out about what I did because people had negative perceptions about this space. But through events and partnerships like this, we can change those ideas and make crypto a part of everyday life.”
State of the local crypto market
Speaking to ITWeb after the event, Nomvete confirmed that while the adoption of crypto-currency for everyday shopping is increasing, this is not the primary use case for most Binance users.
“2024 data from FiveWest shows a 26.5% increase in crypto-currency transaction volumes in South Africa, highlighting the country’s growing readiness for innovative financial solutions. What we are seeing is a gradual shift from crypto being seen mainly as an investment tool, to becoming a practical medium of exchange, with stablecoins playing a key role due to their relative price stability compared to assets like Bitcoin.”
But, for many, concerns around crypto-currency adoption remain. These include, she noted, market volatility, scams and fraud, security risks, regulatory uncertainty, and the irreversibility of transactions.
“Price swings in assets like Bitcoin can create uncertainty for consumers and merchants, while security challenges, including phishing and fraudulent projects, remain a barrier to trust. Additionally, regulatory frameworks are often unclear, adding complexity for businesses navigating compliance requirements.”
To address these concerns, Binance has implemented a range of safeguards to reduce exposure to price volatility.
Local fintech integrations, like the one Binance has with MoneyBadger, enable rand settlements for South African merchants and provide additional layers of protection, Nomvete continued.
South Africa, like other developing economies, has shown a strong appetite for crypto, with tens of thousands of new users adopting digital assets in recent months, according to Nomvete. Africa as a whole recorded the fastest relative growth in 2025, with Chainalysis reporting a 52% increase in on-chain crypto activity, led by Kenya and South Africa.
“Crypto is increasingly being used for remittances, as well as a hedge against inflation and currency volatility, which parallels patterns seen in other emerging markets.”
