Bithumb launches crypto payment service at more than 6,000 physical stores
Bithumb, a cryptocurrency exchange in South Korea, will launch a new service allowing customers to use cryptocurrencies as a means of payment at more than 6,000 physical stores in the country by the second quarter of 2018.
Cryptocurrency payment in more than 6,000 physical stores
A partnership between the main South Korean cryptocurrency exchange Bithumb and mobile payment service provider Pay has been institutionalized to allow offline cryptocurrency payments,according to Joongang Daily, on Monday, March 26th.
"The Korean Pay service is the first national company to provide mobile gift cards and relevant solutions via more than 400 national channels, including Starbucks, Outback and Kakao Talk , based on partnerships with major national franchises, " according to Economic Review.
Joongang Daily added:
Buyers will be able to purchase products from around 6,000 brand name stores, including Cafe DropTop, Yankee Candle and Sulbing, one of Korea's most delectable dessert shops.
A wider expansion
Bithumb will integrate with Pay's already established payment terminals that process gift card payments through 6,000 stores, 400 national partners and 200 franchisees.Customers use bar codes generated in their mobile app to make payments in stores, this number will increase to 8,000 by the end of 2018, according to Korea Times. In addition, some 200 franchise brands have also joined this initiative.
A Bithumb official commented on the expansion of payments throughout South Korea by saying:We took a decisive step. We will strive to put in place an environment where cryptocurrencies will be widely used.The reactions of the South Korean population have been most positive. Bithumb announced the expansion of its customer service center, based in Gangnam, Seoul, in response to rising demand from visitors last week. The company now supports multiple languages - including English, Japanese, and Chinese - in its consulting center. According to the company:
Bithumb also works with 50,000 South Korean hotels to allow guests to pay for their stay as well as relevant accommodation services and products with crypto-currencies.
What do you think of Bithumb's service for physical stores? Let us know in the comments section below.
Posted from my blog with SteemPress : https://infos.link/bithumb-launches-crypto-payment-service-at-more-than-6000-physical-stores/
What I see even with the negative news that comes out of China, South Korea, and Japan in some instances is a more solidified acceptance of the use of crypto currency.
One day in the US we will have the breakthrough of a major retailer that officially says they accept crypto currency as a means of payment for goods and services. I think that is what we are all waiting for, then we will see bitcoin skyrocket.
Yes ! As soon as the merchant enforces it, this will change it all ! Hopefully we will see this grow fast! Thanks for your reply :)
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