LovCash Launches Platform to Help Enterprises Digitize South Africa’s Informal Trade on Lisk L2
Zug, Switzerland, June 17th, 2025, Chainwire
The blockchain-powered platform is transforming supply chain transactions with real-time data, digital payments, and loyalty rewards across South Africa’s informal economy.
Lisk, the Ethereum Layer 2 blockchain focused on advancing Web3 adoption in high-growth markets, today announced the launch of LovCash on its network. LovCash, South Africa’s end-to-end digital payments platform, is streamlining supply chain operations in the informal trade sector through a new deployment on Lisk. The initiative supports major suppliers and distributors operating in cash-heavy markets and aims to drive digital transformation at scale.
By leveraging Lisk’s secure, scalable, and cost-efficient blockchain infrastructure, LovCash is simplifying payments, providing real-time sales tracking, enabling loyalty & instant rewards programs, and eliminating reliance on cash, helping South Africa’s leading fast-moving consumer goods (FMCG) producers serve hard-to-reach markets with greater efficiency. LovCash is already being 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: 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.
- Enhancing Safety, Security & Transparency: 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.
- Providing Real-Time Sales & Data Insights: 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.
- Enabling Loyalty & Rewards Programs: Implement B2B loyalty programs with cash-back rewards to enhance customer retention, strengthen the supply chain, and accelerate sales growth.
- Driving Sales: LovCash’s digital applications unlock unprecedented access to the informal trade, allowing users to discover exclusive offers, pricing, and daily rewards with ease.
LovCash has secured an investment from Lisk to support its growth and expansion. While Lisk actively supports a broad range of projects through its network and ecosystem initiatives, 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.”
For more information, users can visit www.lisk.com and www.lovcash.co.za
About Lisk
Lisk is a Layer 2 Ethereum blockchain dedicated to empowering web3 builders in high-growth markets. By leveraging cost-efficient, scalable, and innovative Layer 2 technology, Lisk enables real-world applications in high-growth markets to operate efficiently on Ethereum for the first time. Lisk’s founder-focused approach provides a comprehensive ecosystem of startup programs, tooling, seed liquidity, and knowledge bases to support local founders from inception to success.
As a long-standing Web3 infrastructure project, Lisk has been contributing toward democratizing blockchain accessibility for developers globally since 2016. As an original member of the Optimism Superchain, Lisk also plays a pivotal role in building the industry’s first truly interoperable supernetwork alongside Optimism, Base, Mode, and Worldchain.
About LovCash
LovCash is a blockchain-powered e-commerce and end-to-end digital payments and rewards solution designed to streamline enterprises’ supply chains. Built on Lisk, an Ethereum Layer 2 blockchain, LovCash enables fast, secure, and cost-effective transactions while optimizing supply chain operations, particularly in emerging markets.