Bithumb exchange launches social media P2P payments

Bithumb launches P2P payments

Bithumb exchange launches social media P2P payments

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Bithumb intros SNS PaySouth Korea’s Bithumb cryptocurrency exchange announced the launch of SNS Pay – a P2P payments platform that lets users pay by social media networking sites and blogs.

 

Last week, it announced a partnership with Korea Pay to allow shoppers to pay for products in more than 6,000 stores using their Bithumb cryptocurrency accounts. The new service will launch by June.

 

Bithumb is also partnering with Wincube Marketing to sell more than 12,500 kinds of mobile vouchers as gift certificates from 600 brands.

 

South Korea cryptocurrency trading growsCustomers of the cryptocurrency exchange can buy gifts and gift certificates using cryptocurrency from their trading account. Bithumb believes shopping conversion rates will be significantly improved for merchants participating in the program.

 

In a statement, Bithumb said:

“SNS Pay is a service that integrates support for sharing, billing, and marketing products registered on social media. In particular, [we’re] implementing a system to allow payments with the same UI/UX and social media.”

 

With a population of more than 51 million, South Korea has one of the world’s highest social media user populations. Statista says more than 84% of South Koreans are active on social media with more than 43 million using the most popular channel called Kakao Talk.