As SA counts down to Black Friday, digital wallets are fast emerging as a key driver of new retail behaviour.
Data from FiveWest, a South African cryptocurrency trading platform, shows nearly R7m in crypto transactions in September 2025, with more than 31,000 merchants now accepting digital payments through platforms like Binance Pay.
Binance Pay, a secure feature from Binance — a leading global cryptocurrency exchange — lets users send, receive, and spend digital assets instantly through its app.
With cryptocurrency adoption surging, digital assets are set to play a transformative role in shaping how South Africans shop. Sub-Saharan Africa has become the third-fastest-growing crypto region globally, driven by strong retail activity. The region recorded over $205bn in on-chain value, representing a 52% increase from last year, with SA standing out for its advanced regulatory framework.
“Crypto is no longer on the fringes of the financial system, it’s at the heart of how a growing number of Africans are spending and saving,” says Larry Cooke, hea d of legal at Binance Africa.
“With recent expansions in crypto payments, this Black Friday will be a litmus test for how digital assets can scale in high-volume retail environments.”
A key driver of this shift is Binance Pay, which is enabling crypto payments across both e-commerce platforms and local brick-and-mortar stores. Consumers are now using digital assets for everyday purchases, from groceries and petrol to flights and education fees.
Globally, Binance Pay transactions for Black Friday increased by 144% between 2023 and 2024.
According to internal data from FiveWest, crypto payments in SA grew sixfold from January to September 2025. Transactions increased from 232 payments worth close to R640,000 to 1,309 payments totalling just over R6.5m. The data also indicates that crypto is increasingly being used for business-to-business payments, not just consumer transactions.
Crypto in retail ahead of Black Friday and beyond
The integration of cryptocurrency into retail is expanding, driven by technology and evolving consumer preferences.
Key trends influencing crypto spending this Black Friday include:
- Crypto rewards on everyday purchases: Shoppers can sometimes earn incentives when paying with crypto. Binance Pay, for instance, is running a limited-time promotion offering the chance to earn up 50% crypto cashback on all transactions at participating merchants.
- More spending options: With more than 31,000 merchants now accepting crypto via Binance Pay, consumers can shop online and in-store for essentials and big-ticket items alike.
- Enhanced security: Payments are encrypted and secure, reducing the risk of fraud during high-volume shopping periods.
- Instant settlement in ZAR: Crypto payments are settled instantly, allowing merchants to receive funds immediately and shoppers to enjoy faster checkouts.
- Rise in stablecoins:. Recent data shows USDT and USDC transactions growing 50% month-on-month since October 2023.
“This Black Friday is more than a shopping milestone; it marks a shift towards a future where digital assets and everyday commerce seamlessly converge,” says Cooke.
“With platforms like Binance Pay leading the way, consumers can look forward to a faster, safer, and more rewarding retail experience powered by crypto.”
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This article was sponsored by Binance.
The information provided herein is for informational and educational purposes only and does not constitute financial advice, investment advice, or any other form of advice regulated under the South African Financial Advisory and Intermediary Services Act, 2002. No part of this communication should be construed as a recommendation, solicitation, or offer to buy or sell any financial product or service.
Digital asset prices can be volatile. Please fund your wallet and perform your transactions cautiously. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. For more information, see Binance’s terms of use, Binance Pay’s terms of use and this risk warning.
