Tokyo Airport Taxi Service Experiments with Crypto Payments

Nov 07, 2018 at 23:18

Remixpoint Inc. is tying up with Hinomaru Limousine Co. to offer rides in Japan with cryptocurrency as payment.

In an announcement posted on its website, Remixpoint said its subsidiary BitPoint Japan Co. Ltd. has launched a demonstration project to accept cryptocurrencies as payment for airport pick-up taxi services provided by Hinomaru.

It said the pilot test began November 6 and will end on January 6.

“In this demonstration experiment, we introduce virtual currency settlement as one of settlement methods in the taxi airport transfer service provided by Hinomaru Limousine. From the airport it is possible to easily pay the transfer fee at the airport at the destination and from the boarding area in the virtual currency,” Remixpoint said.

To be able to avail of the service, users need to have a BITPoint account, and pay taxi application “BITPointWallet.”

The service was reported earlier by Bloomberg, citing unidentified sources familiar with the matter.

The pilot test will take rides between Tokyo’s 23 wards and the city’s major airports, Haneda or Narita.

The service will accept widely used tokens such as Bitcoin, Bitcoin Cash and Ethereum.

Remixpoint said fare going to Narita Airport ranges between 19,020 yen and 37,020 yen while rides headed to Haneda Airport will cost 8,300 yen to 15,600 yen.

The collaboration is just one among the several other team ups globally fintech firms are joining as a way to link to disrupt retail payments and e-commerce.

Tokyo-based Remixpoint operates BITPoint, which is one among 16 virtual currency exchanges granted by the Financial Services Agency, Japan’s financial watchdog, with a license.

Also headquartered in Tokyo, Hinomaru is a private firm that operates some 362 limousines and 161 taxi cabs.

One of the sources also noted that if the pursuit proves successful, the crypto-payment system may be extended to the offerings of regular taxis.