LovCash, a blockchain-powered platform, is bringing real-time data, digital payments, and loyalty rewards to South Africa’s informal economy – one of the continent’s most complex and cash-heavy ecosystems.
The solution is built on Lisk, the Ethereum Layer 2 blockchain focused on driving Web3 adoption in high-growth regions. Through its deployment on Lisk, LovCash is digitizing supply chain operations for informal trade – supporting fast-moving consumer goods (FMCG) producers and distributors that have historically struggled to reach underserved markets efficiently.
By leveraging Lisk’s secure, scalable, and low-cost infrastructure, LovCash enables real-time transaction data, loyalty programs, and cashless payments – all aimed at improving transparency and operational speed. Already, the platform is in use by several major commercial partners and is driving digital transformation across South Africa’s informal retail space.
Unlocking the Informal Economy
South Africa’s informal sector accounts for nearly 20% of all employment, yet it remains heavily cash-dependent. This makes tracking sales, extending credit, and offering supply chain incentives extremely difficult. Since launch, LovCash has onboarded more than 3,700 SMEs and partnered with 9 of the country’s largest wholesalers. The platform has seen 275% growth in five months.
Key features include:
Digital Transactions: Wholesalers, supermarkets, and township retailers can now purchase goods digitally with instant cashback, real-time promos, and one-click payments—reducing cash handling risks.
Security & Transparency: South Africa reportedly loses over $1.3 billion annually due to cash-related crime and fraud. Lisk’s blockchain allows for auditable, traceable payments, enhancing security and trust.
Real-Time Data: FMCG producers can track stock movement through both formal and informal channels, enabling better planning and forecasting.
B2B Rewards: Integrated loyalty programs provide partners with ongoing incentives to participate in the digital ecosystem.
Sales Growth: With access to daily rewards and discounts, informal traders can boost profit margins while formal distributors tap new demand.
Lisk’s Mixed Presence in Africa
Lisk’s support for LovCash reflects its deepening engagement in Africa, where high-growth markets are seen as fertile ground for Web3 adoption.
While Lisk has made strategic inroads into Africa’s high-growth markets, the number of successful Web3 projects launched from the continent on its network remains limited despite efforts around developer capacity and localized funding support. This reflects broader challenges in the African blockchain ecosystem
LovCash stands out as one of the few Africa-focused projects to gain traction on Lisk, highlighting both the platform’s potential and the ongoing need for deeper, on-the-ground ecosystem development.
While developer education remains important for long-term ecosystem growth, Lisk’s experience in Africa suggests that direct project partnerships yield faster, more impactful results. Many local developers face barriers such as limited funding, regulatory uncertainty, and lack of access to real-world use cases. By partnering with startups that already have operational models, customer bases, and regional insight – like LovCash – Lisk can deploy its infrastructure where it matters most. These targeted collaborations not only accelerate adoption but also provide tangible proof-of-concept for blockchain’s relevance in underserved markets, paving the way for broader ecosystem traction.
“Today, the supply chain is entering the blockchain,” said Costas Constantinou, Founder & CEO of LovCash.
“Many South African businesses operate in fragmented, cash-reliant environments with zero access to rewards or credit. LovCash replaces cash with a digital-first ecosystem that strengthens transparency, access, and operational efficiency.”
Dominic Schwenter, COO of Lisk, added:
“LovCash shows how blockchain can solve real problems beyond crypto trading. By modernizing supply chains in the informal economy, they’re setting a new benchmark for how blockchain can empower businesses and communities in high-growth markets.”
___________
About LovCash
LovCash is a blockchain-based e-commerce and payments platform designed to digitize informal trade in emerging markets.
By combining digital rewards, secure transactions, and real-time analytics, LovCash streamlines supply chains and brings transparency and efficiency to underserved economies.
For more, visit www.lovcash.co.za.
Stay tuned to BitKE for developments into the South African blockchain space.
Join our WhatsApp channel here.
Follow us on X for the latest posts and updates
Join and interact with our Telegram community
___________________________________________
