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- Elektra, a Mexican retail giant, and Nexon, a South-Korean Japanese video game developer giant, partnered with BitPay to incorporate cryptocurrencies as a mode of payment on their platforms.
- In Mexico, Elektra became the first retail chain to accept cryptocurrency as a mode of payment and simultaneously offered a 20% discount all December to customers who pay their bills with Bitcoin.
- Nexon’s initiative to add cryptocurrency as a mode of payment comes from players’ growing interest and supports eleven cryptocurrencies to make payments on its platforms.
Elektra is one of the biggest retail chains in Mexico, which recently partnered with BitPay to give its customers a choice of making payments in Bitcoin rather than fiat currencies. Simultaneously, Nexon, a South Korean-Japanese video game publisher giant, also allowed its players to use cryptocurrency for buying in-game products. Both the firms are the most recent ones to accept cryptocurrency as a mode of payment.
Elektra Accepts Bitcoin
The first-ever retail store to accept Bitcoin as a mode of payment in Mexico is now Elektra. The giant also added a promotion that will stay valid until December ends, which explains that all customers who pay their bills in Bitcoin will be eligible to apply for a 20% discount. Noting that cryptocurrencies are also known for their volatile nature, other than all merits they hold, Elektra ensured that, if anyone, after making a payment in BTC, applies for cancellation or return, the refund will be executed in Mexican Pesos for an amount equivalent to the initial transaction amount.
The Mexican retail giant also highlighted the possible risks related to digital assets for dealing with them and clarified that, for any scams, losses, or mishandling, the company could not be held responsible. Elektra, in its terms & conditions, said that “The user accepts and recognizes that the access, use, and security of his wallet is the sole responsibility of the user and at no time is Elektra, nor will be responsible for the access, use, and security of the user’s wallet.”
Elektra is spread over 1,100 locations in Mexico and branched out to the United States, Peru, Guatemala, Panama, El Salvador, and Honduras. Elektra was founded back in 1950 and has constantly grown with innovation ever since. Ricardo Salinas Pliego is a Bitcoin bull who has been the CEO of Elektra since 1987. He is the third-richest person in Mexico who constantly shows his support towards the digital asset industry and calls the leading cryptocurrency, BTC, the new digital gold. Recently, he hinted to all the investors to join the ecosystem of BTC as soon as they can.
Nexon Welcomes Cryptocurrencies
The South Korean-Japanese giant Nexon is not a novice to the crypto industry. About 1717 Bitcoins were bought by the company for $100 million at the time, earlier this year, in April. Nexon is another giant that also partnered with BitPay to support digital assets as a mode of payment on its platforms. Players can now use eleven cryptocurrencies to purchase games like KartRider, V4, MapleStory, Mabinogi, Vindictus, and many more.
The supported cryptocurrencies, excluding Bitcoin, include Ether, Bitcoin Cash, DogeCoin, Dai, USD Coin, Litecoin, Gemini Dollar, etc. The motivation behind this initiative comes from the increasing interest demonstrated by players recently. Nexon explained that “Nexon listens closely to feedback from our players, including the many who have requested we include cryptocurrencies as a form of in-game payment. Effective immediately, we are pleased to offer this innovative payment feature for our players”.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
