Yamada Denki, one of the largest Japanese consumer electronics retailer, has partnered with Bitflyer to trial bitcoin payments starting on January 27. Initially, two of Yamada Denki Labi stores in Tokyo will accept bitcoin and the company plans to implement the digital currency payment option nationwide in the future.
Two directly operated stores have started accepting bitcoin: Yamada Denki Labi Shinjuku east exit pavilion and Concept Labi Tokyo. These locations have many foreign visitors, making them good test locations for the digital currency integration, the company said.
Yamada Denki(LABI) Shinjuku Higashiguchikan, Tokyo, Japan
We will implement initiatives to improve bitcoin recognition and usage promotion.
With the introduction of bitcoin payment service, we respond to the diverse needs of our customers both in Japan and overseas. We believe that we can provide improved service and convenience.
Yamada Denki statement
There is a limit of 300,000 yen (~USD$2,760) for using this payment option. To commemorate the partnership, Bitflyer is giving away 500 yen to the first 500 customers paying with the digital currency using Bitflyer wallet at each store.
Through collaboration with Yamada Denki, we are contributing to improving the convenience of more customers in Japan and overseas.
Recently, we have reported that Japanese cryptocurrency trading and exchange platform BitFlyer has acquired the payment license to operate in EU.