News at a glance
One of the leading energy supplier of Japan “Remixpoint” is now supporting bitcoin payment. The service is integrated with bitcoin and the one who pays out the bill via Bitcoin payment shall be getting discount. Further bitcoin payment will be processed by company’s crypto exchange subsidiary – BitPoint.
Remix point with TEPCO and Bitcoin payment service
Remixpoint is established in March 2004 by listing itself in Tokyo Stock exchange. Present market capitalization of company is approximately 57 billion yen. Company involves in energy -related business operation including developing and selling energy management systems, selling energy-saving equipment, electricity retailing and energy conservation consulting.
The RemixPoint has introduced retail electricity business centered on high voltage clients in TEPCO service area. The Tokyo electric Power Company Service area was developed in Feb 2016 and expanded across japan in August. Consequently, the company processed it in action on Oct 1 (the retail electricity business to service low-voltage consumer). Corporations, retailers and households shall come under low voltage consumers.
With TEPCO service, company has introduced its new mode of payment – via Bitcoin. It is now integrating Bitcoin as a payment to pay off electricity bill. The company furthermore offer this service at a discount those who are paying with cryptocurrency.
Payment of utility bills in virtual currency has already been introduced.
Bitpoint cryptocurrency exchange is in consideration
In order to complete virtual currency payment procedure, Bitpoint is adding support. Ir is a company’s subsidiary which is a cryptocurrency exchange and a payment service provider.
However, Bitpoint is named among the first 11 bitcoin exchanges in Japan which is been granted registration as a “virtual currency exchange” by FSA (Financial Services Agency). Furthermore, Bitpoint is partnered with Peach Aviation to support bitcoin payment to the airline and also affiliated stores. It has also focused on partnering with Evolable Asia to add payment bitcoin provisions across 1400 hotels and inns throughout Japan.
At the event last week “Energy Innovation Japan 2017” company announced and promoted its new service, stating that
We introduce a new scheme that makes maximum use of the integration of the power retailing business and virtual currency exchange management…By using our electricity service, we propose a total cost reduction from existing services by introducing bitcoin and energy-saving equipment.
Remixpoint purchases electricity from nine power companies to provide this service to Japanese. Specifically, company stated its target customers retailers, corporations and households. “Low voltage customers will be payment small electricity bills as compared high voltage customers”
Therefore, company opened an account at Bitpoint payment provider and enables its customer pay via Bitcoin and save on fees. Discount on Bitcoin payment by company will allow its customer save up to 3% in fees. It stated.
We will promote the spread of virtual currency settlement in Japan by developing payment services that take advantage of the strength of reducing remittance and settlement costs, which is the original value of virtual currencies