Rakuten is introducing cryptocurrencies as a payment method

Thursday 4 March 2021 14:43 CET | News

Ecommerce marketplace Rakuten has announced it is allowing Japanese customers to use cryptocurrency for their purchases. 

Rakuten, which withdrew from Germany in October 2020, is active in the financial, as well as the retail sector. The company operates its online bank with its Rakuten credit card and Rakuten Wallet, a trading platform for cryptocurrencies. Since August 2019, the company has allowed trading in Bitcoin, Bitcoin Cash, and Ethereum.

In order to enable the purchase of goods, Rakuten also offers the payment solution Rakuten Pay. Users of the Rakuten Wallet may now transfer their crypto money to Rakuten Pay. The conversion into JPY is automatic and free of charge. The use of this transfer is limited to around EUR 780 per month and the amount to be paid can not be less than EUR 7.80 (JPY 1,000). Rakuten Pay is not limited to the Rakuten marketplace, meaning that Rakuten Pay users can use cryptocurrencies freely for their everyday expenses, provided that the respective retailer or service provider accepts Rakuten Pay.

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Keywords: ecommerce, ecommerce platform, cryptocurrency, online banking, e-wallet
Categories: Payments & Commerce | Ecommerce
Countries: Japan
This article is part of category

Payments & Commerce

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