One of the largest e-commerce companies in Japan-Rakuten announced that it is set to update its payment application to support cryptocurrencies.
Rakuten, a Japanese e-commerce giant which is dubbed as the ‘Amazon of Japan,’ announced a significant update of its Rakuten Pay mobile app would be released on March 18 this year. The new structure for the app will likely support payments made using cryptocurrency in addition to fiat payments. According to the announcement, the new version of the application will come with all the payment solutions embedded into one platform, leaving many to wonder if this is an indirect course of announcing support for Bitcoin and other top market cryptocurrencies.
The company’s recent $2.4 million acquisition of the crypto exchange, dubbed, ‘Everybody’s Bitcoin’ now incorporates itself into ‘Ratuken Payment’, the firm’s payments subsidiary. One of the reasons for the acquisition of the exchange was to provide “smooth crypto payments”. The company in quote believed that "the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future."
The firm also specified that Edy (pre-paid card service) would be supported within the updated app and additionally indicates support for QR code payments.
Earlier in March 2015, Rakuten had started accepting Bitcoin’s [BTC] as a payment option on its American portal named ‘Rakuten.com’ made the rounds, making it one of the first retailers in the world to accept crypto-payments.
With this recent bold step by Rakuten, it might just be the necessary push for Amazon to roll out its own payment platform that supports bitcoin and other top market cryptocurrencies, or maybe not. Many people will definitely want Amazon to even the scale.