Companies like Rakuten try to increase adoption of cryptocurrencies in e-commerce payment
Cointelegraph announced in February 2019 that Rakuten will update the Mobile Rakuten Pay app, which will be able to support cryptocurrency payments starting in March. However, cryptocurrency has not been strong among the means of “e-commerce payment”. Anyway, will your acceptance now increase?
Rakuten invests in e-commerce payment with cryptocurrency
According to blogger Krystle M. of the Bitcoin Exchange Guide (BEG) website, the aforementioned Rakuten app will provide multiple payment solutions integrated into a single platform. Among these means may be cryptocurrencies.
• Access and read also: “ What is e-commerce ”
“Given that Rakuten Payment is a subsidiary of the company, the statement that the platform offers 'all' of these payment options implies that it will also be included,” Krystle wrote.
What is Cryptocurrency?
Based on blockchain technology, cryptocurrencies are codes that can be converted into real money.
Therefore, they can be used in investments, transfers and payments.
This includes, in fact, “e-commerce payment”.
Main features of cryptocurrencies
Basically, cryptocurrencies:
• Employ a decentralized control system (blockchain)
• Offer transparency in transactions through the so-called “ledger”
• There are no intermediaries
• Are not submissive to central banks or other financial institutions
• Are global (boundaries between do not influence them)
• Enable anonymous commercial transactions via the internet
• Are stored in digital wallets
In this way, through cryptocurrencies, purchases can be made with less bureaucracy and possibly more agility.
E-commerce payment: cryptocurrencies are based on blockchain technology, a decentralized control system that does not require intermediaries
Advantages of using cryptocurrencies in “e-commerce payment”
In the context of “e-commerce payment”, cryptocurrencies can provide advantages such as:
• Lower transaction costs due to the absence of intermediaries
• Security based on decentralized encryption rather than a central bank
• More agility in payments and transfers (24-hour operation)
• Easier purchases of products on international sites and vice versa
• Personal data not integrated with cryptocurrencies, which generates greater privacy
Furthermore, by offering another payment method, you, the retailer, increase your chances of making more sales in your e-commerce store.
How is the acceptance of cryptocurrencies in Brazil and in the world?
According to data from Coinmap , in February 2019 there were 14.363 commercial establishments worldwide that accepted Bitcoin, which is the most popular cryptocurrency today.
In Brazil, according to Coinmap, most establishments are offices of liberal professionals such as lawyers, engineers and architects, for example. There are also many establishments that sell computer products and services.
With Rakuten's investment in cryptocurrencies, it is expected that their use will become increasingly frequent in “e-commerce payment” processes in the near future.
Important update : Rakuten's e-commerce facilities in Brazil were acquired by the Ten Oaks Group at the end of 2019. Therefore, the Japanese company's technologies are now being called Gencomm in Brazil. Click on " Gencomm " to learn more about the new brand!
