Japanese Retail Payment System Accept the Bitcoin
Two Japanese retail chains have announced to allow payment via Bitcoins. The electronics giant Bic Camera cooperates with BitFlyer to test Bitcoin payments at two of the main stores in Tokyo.
According to the Nikkei Asian Review, the payments per transaction are limited to 100,000 yen, which is approximately 904 US dollars.
By using tablets, smartphones, or devices provided by the appropriate store, it is possible to deduct the amount from the Bitcoin account. Subsequently, Coincheck converts the bitcoins into yen to transfer to the receiver.
The AirRegi system is currently used in a total of 260,000 restaurants and other retail outlets. Currently, there are only 4.500 stores in Japan that accept Bitcoin. A change to AirRegi would give 260,000 sites for payment.