Rakuten Fully Integrates Bitnet for Bitcoin Payment

Japanese online retail giant Rakuten yesterday announced it has fully integrated Bitnet’s payment processing platform to accept bitcoin as payment. The Bitnet integration allows shoppers full consumer protection and peace of mind when using bitcoin for payment transactions with merchants through’s online marketplace. To mark the occasion, is running a bitcoin promotion beginning April 1.

Fumio Kobayashi, president of 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 online marketplace.

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 in offering the most secure and seamless global payment network that can be enjoyed by both merchants and shoppers.

Rakuten’s corporate release contained this statement:

The integration with Bitnet’s platform will make one of the most secure ecommerce marketplaces. merchants will immediately see the benefits of using a digital currency, including guaranteed payment, instant global reach with no cross-border fees, no price volatility, and no fraud, risk or chargebacks, all for a transaction fees less than that of credit cards. shoppers will instantly benefit from full consumer protection, including multi-sig escrow services for high-value items.

Rakuten says that it is promoting bitcoin payments with promotional campaigns to encourage shoppers to try the digital currency. The initial campaign rewards bitcoin users with a financial incentive. The Japanese company noted that other promotional campaigns will continue throughout the course of the year to encourage adoption and repeat usage.

Journalist, policy analyst, and evangelist of new, disruptive technologies including big data analytics, Internet of Things, and cryptocurrencies. Internet industry veteran with regional c-suite experience, and journalist credentials earned at, Internet World magazine, and Mecklermedia Corporation.
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