Global e-commerce site Rakuten.com today announced that it is now accepting bitcoin as payment by integrating Bitnet’s payment processing platform, according to a press release. 

“Bitcoin turned the Internet into a secure, seamless global payment network," Fumio Kobayashi, president of Rakuten.com, said in a statement. "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 Rakuten.com online marketplace."

Bitnet said Rakuten.com 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 those of credit cards. Rakuten.com shoppers will benefit from full consumer protection, including multi-sig escrow services for high-value items, according to the announcement.

John McDonnell, co-founder and CEO of 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 Rakuten.com in offering the most secure and seamless global payment network that can be enjoyed by both merchants and shoppers."