Japanese Retail Giant Rakuten.com Accepting Bitcoin via Bitnet

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The Japanese e-commerce giant Rakuten.com announced today that it has completed the integration with Bitnet’s payment processing platform in order to accept Bitcoin in payment. The complete press release can be read here.

Shoppers will now receive complete consumer protection while making payments in Bitcoin to merchants through Rakuten.com.

Rakuten.com will also be running a bitcoin promotion campaign from April 1. The president of Rakuten.com Fumio Kobayashi said, “Bitcoin turned the Internet into a secure, seamless global payment network. By integrating with Bitnet we are now offering consumers the industry standard in secure payments, and our merchants will benefit by receiving guaranteed payments. Both consumers and merchants will have peace of mind when participating in the Rakuten.com online marketplace.”

Rakuten.com’s online store is expected to become one of the safest e-commerce marketplaces post the integration with Bitnet’s platform. The megastore’s merchants will see the benefits of using the world’s favorite digital currency, including prompt payments, global reach with extremely low cross-border fees, no fraud, risk or chargebacks, all of that at a transaction fee which beats that of credit cards and traditional payment methods. Shoppers will immediately receive benefits from full consumer protection, which includes multi-sig escrow services for expensive items.

John McDonnell, Co-Founder & CEO, Bitnet, said: “At Bitnet we built security into the DNA of our platform. Our approach to security is designed to protect both shoppers and merchants. We’re excited to join with Rakuten.com in offering the most secure and seamless global payment network that can be enjoyed by both merchants and shoppers.”

Exactly a couple of weeks back, the e-commerce major had announced that it will begin accepting Bitcoin in US.

Rakuten.com has been a strong proponent of the cryptocurrency revolution. In the promotional campaign starting tomorrow, Bitcoin users can expect to receive a financial incentive. The company will continue with its efforts to encourage the widespread adoption of the digital currency.