Paycoin to support Bitcoin payment at CU, Domino’s Pizza, and Holly’s

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[Blockchain Today Reporter Jeong Seung-won] Payment using Bitcoin (BTC) is now possible at large domestic online and offline merchants such as CU, Domino’s Pizza, Holly’s Coffee, Mad for Garlic, and Kyobo Bookstore.

Danal Fintech (CEO Hwang Yong-taek) announced on the 28th that it has started supporting Bitcoin payments in its PayCoin app, a cryptocurrency payment service.

According to the announcement, it is a Bitcoin payment, but because it uses the Paycoin infrastructure, the consent of the merchant is not required, and the low merchant fee rate and high customer use benefits currently provided by Paycoin are applicable.

Bitcoin (BTC) holders can sell their bitcoins on virtual asset exchanges and use them for payment by immediately converting them to PCI whenever necessary without the process of converting them. There is no need to bear the huge fees incurred when sending Bitcoin directly or transaction and withdrawal fees from virtual asset exchanges, and you can conveniently use it for payment without worrying about the transaction approval time.

The Bitcoin (BTC) payment service is carried out by building a ‘Henesys Wallet’ within the PayCoin app through collaboration with HAECHI LABS, a blockchain specialist. Users can create a Bitcoin (BTC) wallet within the Paycoin app, transfer their Bitcoin (BTC) to the wallet, and convert it to Paycoin (PCI) for payment.

Danal Fintech CEO Hwang Yong-taek said, “The opening of the Bitcoin payment service is a groundbreaking event that allows Bitcoin to be used at 70,000 domestic and 30 million overseas Paycoin merchants. We will strengthen the payment environment through the expansion of payment infrastructure such as, and continue to prove the usefulness and utility of the blockchain on which Paycoin is based through this Bitcoin-linked service.”

He continued, “In the future, the virtual asset market will be divided into virtual assets that can make real payments using Paycoin and virtual assets that cannot use Paycoin. I will focus on it.”

Meanwhile, Danal Fintech is said to be planning to link with virtual assets such as Ethereum (ETH) and Icon (ICX) starting with Bitcoin.

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