LovCash Digitizes South Africa’s Informal Trade, Grows 275% in 5 Months

LovCash, a blockchain-powered platform, has launched a new initiative to digitize South Africa’s informal trade sector. The platform, built on Lisk’s Ethereum Layer 2 blockchain, aims to streamline supply chain operations by providing real-time data, digital payments, and loyalty rewards. This move is part of a broader effort to drive digital transformation in high-growth markets, particularly in regions where cash transactions are prevalent.

LovCash’s deployment on Lisk’s network supports major suppliers and distributors operating in cash-heavy markets. By leveraging Lisk’s secure, scalable, and cost-efficient blockchain infrastructure, LovCash simplifies payments, provides real-time sales tracking, enables loyalty and instant rewards programs, and eliminates reliance on cash. This transformation helps leading fast-moving consumer goods (FMCG) producers serve hard-to-reach markets with greater efficiency. The platform has already been adopted by some of the largest commercial partners looking to digitize informal trade operations at scale.

The informal economy in South Africa accounts for nearly 20% of all jobs and remains heavily cash-dependent, making it difficult to track sales, offer benefits, or extend credit. Since its launch, LovCash has onboarded over 3,700 small-to-medium retailers and partnered with 9 of the country’s largest wholesalers. The network has grown by more than 275% in just 5 months. LovCash enables a blockchain-driven solution that transforms the supply chain by transitioning to digital transactions, enhancing safety, security, and transparency, providing real-time sales and data insights, enabling loyalty and rewards programs, and driving sales.

Wholesalers, supermarkets, and mom-and-pop shops can now buy FMCG products via LovCash. The platform offers instant cash-back rewards, competitive pricing, and up-to-date promotions. It also makes it easy to compare prices and complete cashless transactions with a single click, reducing the risks that come with handling cash. In South Africa, cash has fueled crime and fraud, causing an estimated $1.3 billion in annual losses. Lisk’s blockchain enables secure, auditable, and traceable payments, reducing these risks and enhancing financial transparency.

Leading FMCG suppliers can now track product movement more accurately, enhancing supply chain efficiency. This provides valuable insights into product flow across formal and informal trade, enabling better sales tracking and optimization. LovCash’s digital applications unlock unprecedented access to the informal trade, allowing users to discover exclusive offers, pricing, and daily rewards with ease. The platform also implements B2B loyalty programs with cash-back rewards to enhance customer retention, strengthen the supply chain, and accelerate sales growth.

LovCash has secured an investment from Lisk to support its growth and expansion. Lisk actively supports a broad range of projects through its network and ecosystem initiatives, and LovCash is among the select applications to receive direct investment, highlighting Lisk’s deep commitment to empowering founders in high-growth markets. Beyond infrastructure, Lisk connects builders to global network opportunities, funding pathways, and long-term strategic support. By working alongside founders and facilitating access to key stakeholders, Lisk ensures high-growth market projects have the resources they need to scale effectively in Web3.

“Today, the supply chain is entering the blockchain,” said Costas Constantinou, Founder & CEO of LovCash. “Many businesses throughout South Africa operate in fragmented, cash-dependent environments, with no access to supply chain rewards. With LovCash, we’re replacing cash with a digital-first payment, rewards, and commerce system that enhances trade, benefits, security, transparency, and efficiency.”

“Our partnership with LovCash exemplifies how blockchain can transform industries and drive real impact beyond payments,” said Dominic Schwenter, COO of Lisk. “By addressing real-world supply chain challenges, they deliver tangible value—streamlining operations for commercial partners, empowering informal market players with digital access, and offering end users secure, rewarding transactions, setting a new benchmark for blockchain applications in high-growth markets.”