A major electronics retail chain of Japan namely Yamada has tied up with the exchange of crypto currency Bitflyer to add up payment service of Bitcoin in some of its stores located. It was launched in the preceding weekend and as per the press release - one among the major stores of Yamada is going to accept payments in Bitcoin which is located in Shinjuku locality of Tokyo and has started attracting a great number of foreign tourists. The second of the stores which are yet to start receiving Bitcoin payments as a means of goods and merchandise exchanging shall be located in the business district of Tokyo the capital of Japan.
The company has articulated this development as a major leap in the direction of implementing initiatives so that they may help in improvement of recognition of Bitcoin and its father promotion in diversified fields of payments as was stated in its press release. With the launching of a payment system based upon the crypto currency Bitcoin the company has shown that its aim is to answer the diversified needs of its clients which are located both within the nation of Japan as well as foreign visitors. The company strongly believes that it shall result in an improved quality of service as well as provide a greater convenience to its customers.
The retail chain Yamada Denki has put up capping of Bitcoin payments which is equivalent to $ 2,760 for each account holding Bitcoin. $ 2,760 amounts to 300 thousand Japanese Yen. The price of Bitcoin at the time when this article was being written was about $ 11,200 which is equivalent to 1,218,016 Japanese Yen; as per the data received from CoinDesk crypto currency exchange.
This is not the first time that a retailer in Japan has started accepting Bitcoin as a standard method of payment but even before that BicCamera - another consumer retailer chain located in Japan has developed a P-O-S which is point-of-sale methodology to allow the consumers to pay for their purchased goods in Bitcoins was also started; tied up with Bitflyer crypto currency exchange in Japan.
In the July of last year BicCamera has stated that an expansion of Bitcoin payment method is being done all across its nationwide located stores. Next month that is in August Marui - another departmental store chain had successfully tested Bitcoin payment systems at one among its many stores located in Tokyo.