Tokyo based cryptocurrency exchange, BitFlyer, and Tpoint Japan, a technology service, are partnering up to allow locals to trade in loyalty program points for Bitcoin (BTC).
“As part of our mission of ‘Making the world simpler with blockchain’, we will continue to contribute to the further development of a sound virtual currency industry. Tpoint Japan aims to turn its well-known points into ‘Points for people. Points for connecting people and society.’ Participating locations include Bic Camera, Yamada Denki, H.I.S., and more.” Was what was stated in an official press statement released on August 19th, 2019.
T-Card holders are now able to exchange 100 T-Points for 85 JPY worth of BTC according to Cointelegraph Japan. The T-Card collects points at a variety of business around Japan that can then be redeemed. There are around 67 million T-Card holders in Japan today. Now, users will be rewarded for their purchases using Bitcoin in the amount of one T-Point per 500 JPY spent.
They expect that this new program will attract an additional two million customers.
Similar to the program launched by Norwegian and NBX earlier this week, this is a stepping stone to help motivate consumers to use cryptocurrency.