Bitcoin Gets a Booster Dose in E-Commerce Adoption

Rakuten recently announced 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 across multiple geographies. The internet services giant will begin accepting the new payment method first on in the US, to be followed by in Germany and in Austria.

The integration with Bitnet’s platform will make Rakuten one of the largest e-commerce 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. These include instant global reach with no cross-border fees, no price volatility, and no fraud, risk or chargebacks.

Yaz Iida, President of Rakuten USA, said in an official press release: Rakuten’s mission is to empower the world through the internet. 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 US marketplace.

John McDonnell, Co-Founder & CEO, Bitnet, said in an official press release: 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.

Rakuten has indeed set an example as one of the world's leading internet services companies. The company provides a variety of products and services for consumers and businesses, with a focus on e-commerce, finance, and digital content. Since 2012, Rakuten has been ranked among the world’s ‘Top 20 Most Innovative Companies’ in Forbes magazine’s annual list. Rakuten is expanding worldwide and currently operates throughout Asia, Europe, the Americas and Oceania.

Bitnet provides a digital commerce platform enabling enterprise-scale merchants to accept Bitcoin payments. Bitnet’s engineering, product, and business development teams helped build and manage one of the world’s largest payment gateways, CyberSource, which was sold to one of the world’s largest payment networks, Visa, for $2 billion in 2010.