Payment services via Bitcoin now available for South Korean Beachgoers

According to a recent report, a pilot project run by Bitbest-affiliate firm CIC Enterprise will be providing crypto payment options for two top beaches in South Korea for tourists.

ZDNet Korea stated that the CIC Enterprise is partnering with cash and card payment provider Innotech to provide such service. With this service, tourists going to the beaches can now pay for their water sports-related services using Bitcoin.

The report reveals that the service will be available for the famous beaches in Busan, South Korea, renowned for their massive tourist visits.

More efficient and faster payment solution

Bitbeat reveals that tourists can complete their payment using Bitcoin within 10 seconds, making it the fastest payment solution for them. The payment processor will depend on the utilization of QR codes for any crypto wallet in the world. This makes it different from other payment solutions that usually require customers to complete their payment through rigorous downloads of apps before payment is processed.

The company stated that the goal is to make the new payment solution more accessible and used in real life, as it tries to provide a conducive cryptocurrency payment environment for all tourists.

“We hope that the virtual currency used in the Haeundae-gu beach system will be more widely used in real life,” the company stated.

The Busan authorities think that people will find it more convenient to use the already available services within the Haeundae beaches rather than stressing themselves to come along with their own things to enjoy their time on the beach.

The Haeundae beaches are not the only beaches offering such services. Songjeong is another beach offering similar crypto payment service in South Korea.

On June 20, a Busan-based private-public consortium stated its intent to establish a medical tourism platform that will be powered by blockchain technology. However, the company has not finalized the project’s launch date. Based on the report, Busan Bank will be sponsoring the initiative.

The initiative will make life easier for tourists

The project, when established, will offer tourists the convenience of paying for parasol rentals, life jackets, and water sports-related activities using Ethereum (ETH), Bitcoin, as well as ERC20 and WAY tokens via a smartphone-based platform.

This initiation is intended to make life easier for tourists who visit the beaches in droves. The tourist industry has been affected by the lockdown surrounding coronavirus. But with the gradual easing of lockdown in South Korea, the service will become quite beneficial to tourists.

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A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.