Japanese bitcoin exchange CoinCheck, having partnered with Recruit Lifestyle just 3 shorts months ago, announced on Monday that it will enable bitcoin payments to over 260,000+ retail stores in Japan.
- Recruit Lifestyle's point of sale app, "Mobile Payment for Air Regi" is already being used by 260,000+ retailers in Japan.
- After the announcement on Monday, July 3rd, all "Air Regi" users will be able to accept bitcoin as a form or payment in their stores.
- Starting July 10th, 334 eyeglass stores, part of the Megane Super chain will be accepting bitcoin as payment using the "Air Regi" app.
-Image Credit: CoinCheck.com
Recruit Lifestyles announcement comes 2 days after Japan's removal of the 8% consumption tax on all bitcoin transactions.
- Until July 1st, Japan was the sole major economy that had a tax placed on bitcoin.
- Having removed this tax Japan is looking to increase the usage of bitcoin as a payment in traditional brick and mortar stores across the nation.
- Japan is as the forefront of bitcoin adoption through out its nation, setting rules in place to widen acceptance and increase daily usage.
Bitcoin exchange CoinCheck has also been proactively seeking out and signing up new merchants to accept bitcoin for payment directly.
- CoinCheck hosts an already impressive 5,000+ merchants accepting bitcoin on its books.
- Some of CoinCheck's more well know merchants are the popular "Capsule Hotels," as well as Kai Corporations restaurants, which host 5 locations across Japan.
-Image Credit: bitcoinnews.com
Do you feel the bitcoins slow transaction time and higher fee's will be a factor in implementing usage or will merchants assume fee costs and allow customers to leave their stores before the 30 minute estimated (aprox) secured transaction time?
Please leave your thoughts in the comment section below!
Thank you for reading.
Cheers @elderfinancial
thank you for your post. I haven't heard about this news...
I found the information sources. (written in Japanese)
-> http://corporate.coincheck.com/2017/04/05/2.html
Thanks for reading @chayashi and the translation post. Much appreciated.
Wow that is nice hopefully all other coins too
I hope so too. I think Litecoin could definitely be a possibility in the future as well.
About time we saw more stuff like this. Japan and South Korea are pretty forward thinking in accepting bitcoin and other cryptos as payment.
That they are. It's because they don't have the baby boomer generation holding them back from progress.
We still just scratching the surface...once amazon and alibaba start accepting bitcoin, which could be sooner than later it's literally to the moon!
I agree! I wonder who is gonna be first? Asia seems to have quite the step on the US in crypto acceptance.