LovCash and Lisk Drive Blockchain Payments in South AfricaLovCash and Lisk Drive Blockchain Payments in South Africa
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LovCash and Lisk drive blockchain payments in South Africa's informal economy

Partnership aims to digitize cash-heavy trade with secure, low-cost blockchain-based transactions

6/17/2025
•Anass Baddou
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South Africa’s vast informal trade sector is undergoing a digital transformation as LovCash, a local digital payments platform, teams up with German blockchain provider Lisk. The collaboration aims to modernize day-to-day transactions for small retailers, informal traders, and supermarkets that still rely heavily on cash. By leveraging blockchain, the partnership introduces a secure, low-cost, and transparent alternative to traditional cash payments.


Tackling Cash Dependence with Innovation

Despite employing roughly 20% of South Africa’s workforce, the informal economy remains largely outside the digital financial system. LovCash intends to change that by rolling out a digital-first ecosystem that simplifies payments, tracks sales, and offers traders rewards and credit access. The solution promises to streamline commerce in sectors that often lack digital infrastructure and formal banking services.

Replacing Risk with Traceability

Cash-based businesses in South Africa often face high risks of fraud and theft, costing the economy an estimated R3.3 billion annually. LovCash’s blockchain infrastructure, powered by Lisk, introduces tamper-proof and fully traceable transactions to significantly reduce these losses. This move offers small businesses a more secure alternative without requiring access to traditional bank accounts.

A Platform Tailored for Real-World Challenges

LovCash founder and CEO Costas Constantinou emphasizes the importance of supporting fragmented trading environments with practical tools. He noted that the platform is designed not only to process transactions but to improve trade logistics, unlock supply chain incentives, and increase transparency for all parties involved. The digital wallet system also supports instant rewards and loyalty programs, making it attractive for both merchants and consumers.

Blockchain as the Backbone

By eliminating costly intermediaries common in traditional banking, blockchain allows LovCash to process micro-transactions with greater efficiency. In markets where small margins and low trust levels prevail, this shift could be transformative. According to Lisk COO Dominic Schwenter, the collaboration aims to address systemic supply chain inefficiencies while empowering traders with secure, accessible digital tools.

Scaling with Retailer Trust and Wholesaler Partnerships

Since its launch in 2018, LovCash has expanded rapidly, onboarding more than 3,700 retailers across South Africa. The platform has also secured distribution deals with nine of the country’s largest wholesalers, giving it deep reach into the informal retail network. Recent data from LovCash shows a 275% growth in platform usage over the past five months alone.

Investing in Future Growth

Lisk’s support for LovCash extends beyond technology, with the blockchain firm committing to direct investment in the South African fintech. While financial details remain undisclosed, the partnership includes both capital and technical resources to accelerate development and attract additional investors. The companies describe the initiative as a long-term collaboration focused on transforming informal commerce through innovation.


LovCash and Lisk’s partnership represents a pivotal step in digitizing one of South Africa’s most complex and underserved economic sectors. By blending blockchain infrastructure with local business insight, the platform offers practical solutions to long-standing challenges. As more traders embrace digital tools, LovCash could play a central role in shaping a more inclusive and efficient retail economy across the country.


Source : Techcabal.com