Topic: [2017-04-05]Japan: Bitcoin Payments Could See 260,000 Stores by Summer (Read 182 times)

Japan: Bitcoin Payments Could See 260,000 Stores by Summer

Bitcoin payments may be accepted at over 260,000 stores in Japan by this summer following partnerships between the country’s Bitcoin exchanges and major retailers.

BIC CAMERA TO TRIAL BITCOIN PAYMENTS


Japanese electronics chain Bic Camera has partnered with Tokyo-based bitFlyer, which runs the country’s largest bitcoin exchange that currently comprises about 10% of the Bitcoin market.

This Friday, Bic Camera’s flagship shop in Tokyo’s Yurakucho district along with Bicqlo Bic Camera, a hybrid outlet with Uniqlo, will begin a trial run using bitFlyer’s bitcoin payment system, according to the official release.

Customers will be able to pay up to 100,000 yen (~$900 USD) with Bitcoin, which will also include reward points at the same rate as for cash payments. The trial will determine if Bic Camera will expand Bitcoin payments to its other 39 nationwide locations.

260,000 MERCHANTS CAN NOW ACCEPT BITCOIN

Meanwhile, another Tokyo bitcoin exchange, Coincheck, has partnered with Recruit Lifestyle, the retail support arm of human resources conglomerate Recruit Holdings.

Coincheck, which currently holds 99% of the bitcoin payment market share in Japan, will bring Bitcoin payments to shops that use AirRegi, a point-of-sale app developed by Recruit Lifestyle, by this summer.

To pay with bitcoin, customers can simply scan the barcode displayed on the app. Coincheck will process the transaction, converting the bitcoin into yen for the merchant.

Full Read Here: http://bitcoinist.com/japan-bitcoin-payments-stores/