Japanese Retailer Marui Will Experiment With Bitcoin Payments

Getting more retailers and merchants to accept Bitcoin is always a good plan. Over in Japan, it seems to be a matter of time until that happens. Marui is one of the more famous brands in the country. They are now accepting Bitcoin payments, which is great news. This goes to show there is a bright future ahead for cryptocurrency in the country. It remains to be seen how successful this venture will be, though.

It comes as a surprise to learn Marui is now accepting Bitcoin payments. Up until a few days ago, there was no reason to think the company would do such a thing. Then again, things have taken an interesting turn recently. Japan is embracing Bitcoin like no other country has so far. More and more retailers want to accept the payment method as well, which is quite significant. Marui is the first major department store in the country to embrace cryptocurrency payments.

Marui Prepares to Embrace Bitcoin Payments

In Japan, everyone knows Marui, even though may not necessarily shop there. It’s a chain of department stores focusing on high-end fashion brands. Their stores are located throughout Tokyo and other major Japanese cities, giving them plenty of exposure to the masses. Anyone aged between 20 and 35 will have visited one of their stores at least once. The company has been around since 1937, with 31 retail locations throughout all of Japan right now. A massive boon for Bitcoin knowing all of these locations may soon handle cryptocurrency payments.

The acceptance of Bitcoin is realized through a partnership with bitFlyer.  Most people have heard of this major Japanese cryptocurrency exchange. bitFlyer is still Japan’s largest exchange by volume. Despite some competitors coming to market, the company is still holding its position firmly. The company was selected to embark on a Bitcoin payment acceptance trial with Marui. For now,  only one location – Shinjuku Marui Annex – will accept Bitcoin payments until October 31st.

At that time, the trial will be evaluated and popularity of BTC payments will be determined. Assuming that is a successful result, the company may expand the number of stores accepting BTC payments. If previous trials by BIC Camera are any indication, this should yield some positive results for sure. It is important to note customers can only use the bitFlyer mobile wallet to make Bitcoin purchases. Other companies may be supported in the future.

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