Rakuten, Japan largest online store, has embraced digital currencies
Rakuten, Japan’s largest online store, allows its customers to use Bitcoin directly in their daily purchases. The company has also developed incentive programs to encourage customers to use these services.
According to Cointelegraph, the Japanese retail company Rakuten, which has a positive attitude towards digital currencies, has now made it possible for Rakuten wallet users to easily pay through digital currency assets in daily transactions. Rakuten Wallet is a subsidiary of the Japanese company’s digital currency exchange.
According to an announcement released last Wednesday, users will now be able to deposit Bitcoin, Bitcoin Cash and Ethereum in their wallets into their Rakuten Pay account.
RakutenPay is a mobile payment software that can be used throughout Japan and supports a wide range of large and medium-sized retailers.
Earlier in 2019, Rakuten allowed its customers to convert Rakuten Group loyalty points into digital currencies such as Bitcoin.
The company’s recent move connects Rakuten Wallet, Rakuten Cash (Rakuten Electronic Money Service) and Rakuten Pay. This has been done to support digital currency payments at retailers such as McDonald’s, Seiyu and FamilyMart.
In the process, Rakuten receives no commission for converting Fiat money, electronic money, and encrypted assets. But the minimum spending is estimated at 1,000 yen (approximately $ 9.40) and the maximum monthly payment is around 100,000 yen (approximately $ 940).
To use this merger, users must be a Rakuten member and have a trading account set up for the Rakuten wallet. The company also offers a small bonus in the form of Rakuten points to encourage the use of the new service.