South African Payment Gateway Drops BTC Over Fees and Network Congestion

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On July 12, South African payment gateway service Payfast announced the company is dropping bitcoin core (BTC) payments due to network congestion and high fees. Payfast emphasized that BTC has a number of limitations and design flaws which makes it an “impractical substitute for cash.” Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments Network Congestion and High Transaction Fees Force Payfast to Drop BTC Support According to a blog post written by Payfast, one of South Africa’s largest online payment gateways, BTC payments will no longer be processed after July 20, 2019. Payfast…
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South African Payment Gateway Drops BTC Over Fees and Network Congestion

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