Rakuten to accept bitcoin on global marketplaces


Rakuten Inc announced Tuesday that it plans to enable customers to choose bitcoin as a payment option by integrating Bitnet’s payment processing platform on a number of its marketplaces.

The Internet services giant will begin accepting the new payment method first on in the U.S., to be followed by in Germany and in Austria.

The integration with Bitnet’s platform will make Rakuten one of the largest ecommerce companies in the world to begin accepting bitcoin. In addition to offering consumers enhanced security, privacy, and convenience, Rakuten merchants will immediately see the benefits of being able to use a digital currency, including instant global reach with no cross-border fees, no price volatility, and no fraud, risk or chargebacks.

“Rakuten’s mission is to empower the world through the Internet,” commented Yaz Iida, President of Rakuten USA. “Not only can bitcoin support this vision by helping our merchants better compete globally, but it also has the potential to benefit society by enhancing the security, privacy, and convenience of financial transactions. This is one of the reasons why we invested in Bitnet last year and we look forward to working with them on our U.S. marketplace.

John McDonnell, Co-Founder & CEO, Bitnet, said: “Rakuten’s global marketplaces are great examples of how digital currencies can impact global commerce. We’re excited to join with Rakuten in helping both merchants and shoppers reap the benefits of this new technology.”

© Japan Today

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This is big news. Price of bitcoin will go up again.

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Not really big news. The big news will come if and when Rakuten try this in Japan. The CEO of Rakuten is a bit of a golden boy with the bureaucrats down in Kasumigaseki fawning over him like some love-starved teenagers. I wonder what the Ministry of Finance will make of this if Rakuten starts to push for Bitcoin in Japan (old Silver Spoon Taro Aso has already said he wants to tax Bitcoin). It could be the end of a beautiful relationship.

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