Japan’s largest shopping chain selling household appliances and electronics, Yamada Denki announced a partnership with cryptocurrency exchange Bitflyer to test bitcoin payments. First, bitcoin will be accepted in two stores Yamada Denki Labi in Tokyo, but in the future the company plans to make the payment option digital currency available in their stores across the country. This was announced on January 27.
In the framework of the pilot project the two shops began to accept bitcoin: Yamada Denki Labi Shinjuku and Tokyo Concept Labi. The company noted that in these areas many tourists, which makes them ideal for integration of digital currency. Payment in bitcoin is still limited to 300,000 yen (~ 7 760 dollars). To mark the innovation, Bitflyer gives 500 yen for the first 500 customers who pay in the digital currency wallet using Bitflyer.
As reported by Bitflyer, after successful testing in two stores, Yamada Denki plans to accept bitcoin payments at all its locations throughout Japan.
«Thanks to the cooperation with Yamaka Denki we contribute in enhancing the use of digital currency to more consumers in Japan and abroad», — noted in Bitflyer.
Yamada Denki operates stores under several brands, including Tecc Land stores Labi, Yamada and Yamada Mobile Outlet. Tecc Land stores located throughout Japan. Shops Labi is a major trading points, often located at train stations in the city centre. Yamada Mobile specializiruetsya on mobile phones and computer technology. According to the latest data of the company as at March 2017, the network consisted of 956 stores, each of which in the near future, perhaps will be taken by bitcoin.
In April last year, another major Japanese electronics chain in partnership with Bitflyer began to accept payment in bitcoins. First, the company Bic Camera also tested
this method of payment to two of their stores, and then, in July last year announced that it would accept bitcoins in all stores. Only in Japan around 40 Bic Camera stores.