Korean catering offers crypto-payment option

Special kiosks with the ability to accept payments in virtual currencies are planned to be installed in cafes and restaurants of Korea
12 March 2018   610

South Korea largest cryptocurrency exchange is planning to launch a special service for Korean food and beverage franchises. In order to reach the customers that deal with virtual currencies, Bithumb partnered with kiosk manufacturers Tros Systems, IYU and Unos Space. The purpose - designing and installing digital currency kiosks into cafes and restaurants. With the special software for the kiosks by Bithumb, clients will be able to pay for their food with their cryptocurrency on the exchange. Potential kiosk users will be able to easily access their accounts with just the password because the machines will be equipped with Bithumb Cache - a password settlement service.

The entry into the kiosk business is meaningful to provide substantial benefits and low-cost rental services to small business owners.  We will continue to work in various industries based on Blockchain technology. We will continue to provide opportunities to provide total solutions for small businesses through our partnership.

 

Excerpt from Bithumb statement

In order to stimulate the adoption of the new concept, Bithumb is going to offer 2 options for the franchises: first, service packages for businesses to choose from in order to get the best match to their needs; and second, a discount of 10% for the catering companies with the intention to help this area of small business afford the product. Estimates indicate over 1 mln cryptocurrency holders in Korea suggesting a gigantic open market for food service providers have yet to set foot into.

Earlier, a similar precedent was spotted in Japan.

Bithumb to Launch Payment Service is Qoo10

Qoo10, also known as the “Asian Amazon”, is a giant of online commerce operating in Singapore, Hong Kong, China and Indonesia
08 November 2018   249

Bithumb reported that it had entered into an agreement with Qoo10 to create a service for paying for goods and services using cryptocurrencies. This is reported by Cointelegraph.

Qoo10, also known as the “Asian Amazon”, is a giant of online commerce operating in Singapore, Hong Kong, China and Indonesia. The press release also says that within the framework of cooperation, the Bithumb payment service will be expanded for use around the world.

The partnership with Qoo10 has made it possible for us to utilize the Bithumb cache beyond our home country and abroad for real life. We will continue to improve our services to improve customer convenience.
 

Bithumb

The companies signed a corresponding agreement back in August, after which they started working on settlement services as part of the Qoo10 service and the Bithumb Cache system. The Bithumb settlement service was introduced in the spring and allows exchange customers to exchange crypto assets and use them for payments.

Thanks to a new partnership, consumers will be able to buy Qoo10 products using the Bithumb Cache service.