Unexpected Popularity Prompts Bic Camera to Accept Bitcoin at All Locations

Bic Camera first started accepting bitcoin in April, following the federal government's recognition of the digital currency. By partnering with Bitflyer, Japan's leading bitcoin exchange by volume, two Bic Camera shops started permitting bitcoin settlements. The business's executives said as these shops would certainly function as a testbed for bitcoin. If successful, the chain could turn out a bitcoin settlement alternative to all its shops across Japan.

Last month, the business opened up a new store which is located in Akihabara, the world's leading innovation district. It became the third Bic Camera shop to accept bitcoin. According to The Hokkaido Shimbun on Monday, Bic Camera "evaluated that there is demand not only for international site visitors to Japan however also for Japanese consumers."

While Nikkei did not define a day, local magazines suggest that the team will certainly begin presenting the bitcoin settlement option on July 14.

-Bic Camera Family of Stores

The Bic Camera group of stores contains three brands; Bic Camera, Sofmap and Kojima. The latter 2 are subsidiaries of Bic Camera. Since August 2016, the group operates 39 Bic Camera shops, 31 Sofmap stores, as well as 139 Kojima shops, with even more stores prepared across Japan.

Sofmap markets both new and also previously owned electronics. The company came to be a subsidiary of Bic Camera in 2006. Electronic devices retailer Kojima, which focuses on shops in Suburban areas, was acquired by Bic Camera in 2012. At the time, Bic Camera rated fifth in the industry while Kojima ranked sixth, reported The Japan Times. The procurement developed the 2nd largest retail electronic devices chain in Japan.

Bic Camera is the current major Japanese retail chain to integrate bitcoin repayments. Last week, Recruit Lifestyle which partnered with bitcoin exchange Coincheck began turning out a bitcoin payment option to 260,000+ stores that utilize its point-of-sale app, Air Regi. On the other hand, another Japanese bitcoin exchange Bitpoint is functioning separately to introduce bitcoin payments to over 100,000 sellers via partnerships with large firms such as Peach Aviation as well as Evolable Asia.