South Africa Now Allows Traffic Fines to be Paid by Bitcoin
If you’re an owner of Bitcoin and get into traffic issues in South Africa, fear not, because the country now lets you pay your traffic fines with Bitcoin.
The South African traffic fines administrator, Fines4U, allows clients to pay any outstanding fines in Bitcoin. However, there will be no POS system or direct QR payments; rather, this is an example of a business looking to accumulate Bitcoin without risking the direct investment in it.
Fines4U is the intermediary between companies and individuals who need to pay the fine and the government agency charging the fine. Fines4U gets the money from one to the other, managing traffic fines for about 500 companies and 8,000 individuals.
Cornelia van Niekerk, the founder of Fines4U, has personally invested in Bitcoin, so her new plan is to accept Bitcoin payments from clients and have the Bitcoin be deposited into her own personal wallet. Then, she will pay the fines through the business using local currency, and deposit money back into her business from her own finances. In this way, she gets the Bitcoin directly from the clients, and her business keeps its income through her personal finances.
For clients wishing to take advantage of this offer, the outstanding amount of their traffic fines will be calculated, and then they will be presented with the amount in Bitcoin, which will be valid for a limited period.
Featured Image: twitter