Bitcoin Indonesia has joined forces with payment processor iPaymu to allow customers to buy bitcoins in 10,000 Indomaret convenience stores.
Bitcoin Indonesia runs the bitcoin.co.id exchange where bitcoins can be traded with the Indonesian Rupiah. It will leverage this venue when customers come in store to buy their bitcoins.
Customers must first create an account online, after which they pay in store for their bitcoins, which are deposited into their online wallet.
FX Veteran Hossain-Nelson Joins INFINOX to Ramp Up IX Prime OfferingGo to article >>
Bitcoin activity has picked up in Indonesia in recent months, with Bitcoiners in the country seeking to turn its Bali island into a Bitcoin paradise through the Bitislands project.
There is a growing trend of Bitcoin businesses teaming up with payment processors to allow bitcoin sales in retail locations. This deal resembles that between ZipZap and Payzone, which launched the service for over 20,000 locations in the UK. In our case, the impact may be felt more strongly in a country where the majority of the population is unbanked and conducts most of its transactions with cash. Such an arrangement is the only option for many, as the retail infrastructure already exists. Bitcoin ATMs are few and far between.
In Canada, SecuraCoin is looking to do the same with its launch of bitcoin sales at payday loan stores and other retail locations. SecuraCoin says it makes the process even more simple allowing customers to buy immediately without pre-registration online.