Japanese Electronics Retailer Now Accepts Bitcoin

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Adoption amongst retailers of bitcoin is still growing, and bitFlyer a Bitcoin payment processors has inked a deal with Bic Camera a Japanese electronics retailer to test a new Point of Sale system thats allows customers to purchase goods with bitcoin at checkout.

Bic Camera is a major Japanese retailers, stocking products such as computers, cameras, televisons and much more at 41 stores. Customers are now able to choose to pay with bitcoin, and at a time when bitcoin has just gained legal status as a means of payment within Japan, as recently announced by the government.

The POS system developed by bitFlyer will enable the store to accept the digital currency and will immediately convert funds to yen. The stores are then charged a 1% service fee on transactions which is typically below the rates that Visa or Mastercard would usually charge, which could range from 2% to 4%. This could be a significant cost saving for Bic Camera.

Bic Camera has also launched a promotion for the first 200 customers to pay with Bitcoin.

According to Coinmap there were over 8000 locations accepting bitcoin aross the world as of January 2017. See how bitcoin adoption has grown in this short video.

It’s great to see adoption further increasing, and we hope that one day every store will be able to accept bitcoin or other crypto-currencies.

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