Japan’s Largest Consumer Electronics Chain Now Allows Bitcoin Payment
The Japanese electronics retail giant, Yamada Denki has launched the bitcoin payments. The move has been made because of another Japanese electronics retailer Bic Camera’s bitcoin option, a year ago.
Yamada Denki is one of the biggest Japanese consumer electronics retailers that has come in partnership with cryptocurrency exchange bitFlyer. The move has been an endeavor to include bitcoin payments benefits in its two stores.
According to the media sources, the launch has been this end of the week as it were. One of the two stores of Yamada Denki that will get this service is situated in Shinjuku. Shinjuku is in Tokyo that pulls in countless visitors. With respect to the next store, it is fundamentally adjacent to the primary business district of Tokyo.
In light of this huge declaration the company stated:
“In addition to diversifying [our services], we will implement initiatives to improve bitcoin recognition and usage promotion.”
The thought behind the launch of bitcoin payment system is to react to the various needs of the Yamada Denki’s clients that are in Japan as well as abroad.
The organization said:
“We believe that we can provide improved service and convenience.”
The settlement limit of bitcoins that have been set by the company is proportional to 300,000 Japanese yen for each account that is about $2,760. According to the Bitcoin Price Index of CoinMarketCap, the cost of bitcoin is $11, 255 at the time.
The enormous move made by the company has been in light of the Bic Camera’s declaration to acknowledge bitcoins, in last April. Bic Camera is a Japanese electronic retailer that said it will test a brand new PoS i.e purpose of-scale system, that too in association with bitFlyer. This system will fundamentally enable its clients to buy products with bitcoin.
In July, the company likewise said that it is bringing the bitcoin payment choice to the majority of its stores, across the country.
Also, the comparable step has been taken by a department store chain, Marui, in August. This Tokyo based store chain tried bitcoins as a payment at one of its stores, situated in Shinjuku. The cap for this trial was of $900 on bitcoin transactions.
