Online mall Rakuten to accept bitcoin in US, Germany

I Web Guy Blog

Japanese e-commerce site Rakuten will become the latest online shopping mall to take bitcoin, with its services in the U.S., Germany and Austria accepting the digital currency.

The Amazon.com rival said Tuesday that it will use payments software from Bitnet, which Rakuten helped launch last year as a potential competitor to payment firms such as Bitpay and Coinbase.

The announcement follows comments last month by Rakuten CEO Hiroshi Mikitani that the e-commerce site would likely accept the digital money.

It makes Rakuten one of the largest online malls to accept bitcoin and will benefit online merchants with « no cross-border fees, no price volatility, and no fraud, risk or chargebacks, » the company said in a release.

« We believe that bitcoin will support our mission of empowering the world through the Internet by helping our merchants compete better globally, but it also has the potential to benefit society by enhancing the security…

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