2019-2-18 04:17 |
Rakuten is an e-commerce firm in Japan that presently has a mobile app for consumers to access their services. A recent update of the Rakuten Pay mobile app was just announced, due to be released on March 18th.
Based on the announcement, the new structure looks as though it is geared towards supporting both fiat and cryptocurrencies. Specifically, the app says that it will offer “all payment solutions embedded into one platform.”
Rakuten, known more colloquially as Japan’s Amazon, has revised the corporate structure, which includes “Everybody’s Bitcoin” as part of a subsidiary of the company called Rakuten Payment. The payment subsidiary was formerly called Spotlight, though the connection makes it possible to use the prepaid card service as well, called Rakuten Edy.
The recent earnings release shows that Edy will be a part of the update, along with support for QR code payments. Still, the idea of cryptocurrency is implied more than anything, because they company does not specifically list cryptocurrency as part of the payment solutions that will be included.
However, considering that Rakuten Payment is a subsidiary of the company, the statement that the platform offers “all” of these payment options implies that it will be included as well.
Everybody’s Bitcoin was recently acquired by Rakuten in August last year, in a deal that cost the company $2.4 million. Back then, representatives for the company expressed that the firm was “considering entry into the cryptocurrency exchange industry.” In their opinion, “the role of cryptocurrency-based payments in e-commerce, offline retail and in P2P payments will grow in the future.”
An earnings report from Rakuten shows that their net income from last year totaled 141.9 billion yen, which is an increase of 28.4% from 2017. Two years earlier in March 2015, the Rakuten platform had decided to allow consumers to pay with Bitcoin through Rakuten.com, an American portal.
SBI Holdings, which is also based in Japan, has been expressing interest in entering the crypto industry. In July 2018, the company launched VCTRADE, their own crypto exchange. By December 2018, the exchange had begun allowing select major cryptocurrencies and bitcoin to be deposited.
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