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Xenosmining
Apr 13

Bitcoin to Be Accepted at 260,000 Stores in Japan by This Summer

Bic Camera and Bitflyer

Bic Camera is a major consumer electronics retail chain in Japan. Many of its stores are either located in front of a train station or are directly connected to one, making them very easily accessible with lots of foot traffic. Bitflyer is the largest bitcoin exchange by volume.

According to Nikkei Asian Review, the two companies have partnered and Bic Camera will start a trial to accept bitcoin payments at two of its locations in Tokyo on Friday, using the Bitflyer’s payment system. The first location is Bic Camera’s flagship shop in Tokyo’s Yurakucho district, and the other is Bicqlo Bic Camera which is the hybrid outlet with Uniqlo located in Shinjuku. Usage trends at the two test stores will help the company decide whether other locations will accept bitcoin payments.

260,000 Stores Will Accept Bitcoin
While Nikkei reports that about 4,500 stores in Japan currently Bitcoin Will Be Accepted at 260,000 Stores in Japan by This Summeraccept bitcoin as payments, in an interview with Bitcoin.com in January, Coincheck revealed that more than 5,000 merchants and websites accept bitcoin through the company’s system.

Electronic money is popular in Japan. In addition to cash payments, some of the most popular electronic payment methods are Suica and Rakuten’s Edy, which are rechargeable contactless smart cards. While Suica is accepted at about 380,000 outlets and used as a fare card on train lines in Japan, Edy can be used at 470,000 locations nationwide.