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Rakuten Finalized Crypto Wallet And Payment App Integration, Adding Crypto As Means of Payment for Shopping

By Natalie Wu | March 8, 2021
Shoppers Can Now Buy Bitcoin at US Supermarkets

Crypto-friendly, Japan-based retail heavyweight Rakuten has reportedly completed the integration of its Rakuten Wallet with its payment app, making Bitcoin an accepted payment method for daily transactions. 

Specifically, the development will reportedly mean anyone using the Rakuten Wallet will have the freedom to load up and convert Bitcoin (BTC), Bitcoin Cash (BCH) and Ether (ETH) . 

Rakuten Pay is a mobile payment app that has global access, and supported throughout a vast array of large- and medium-scale retailers. 

In 2019, Rakuten had already rolled out facilitating features for its customers to carry out conversion of their Rakuten Group loyalty points to cryptocurrencies, nominally Bitcoin. 

Now, a more thorough integration is reportedly being finalized, establishing a cross-connection among Rakuten Wallet, Rakuten Cash (Rakuten’s e-money service) and Rakuten Pay, in a bid to facilitating crypto-enabled spending across retailing locations, nominally McDonald’s, Seiyu and FamilyMart.

The conversion activity for fiat, e-money and crypto holdings will reportedly have no charges, although a minimum spend amount of 1,000 yen (around $9.40) will be applied, and an upper limit of approximately 100,000 yen (roughly $940) will also be rolled out, on a monthly basis. 

In order to utilize the integration, users will have to complete their Rakuten membership registration, and finalize the account set-up protocol for Rakuten Wallet. 

The firm further offers a small bonus of Rakuten points as a token of  incentivization for the new service.

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