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Are the Worlds Largest E-commerce Merchants Ready for Bitcoin?

Posted on 10.19.2014

While mobile optimization, SEO and social media garner most of the attention from e-commerce merchants, it is crucial they not forget the importance of a simple and effective payment process.

Bitnet Technologies, a Bitcoin payment services provider, has announced the reception of $14.5 million in a round of Series A funding.

The funding comes as the platform prepares to expand its sales, marketing and customer support teams for the launch of its platform. The payment solution is an intriguing option to companies who are looking to accept Bitcoin due to its low transaction fee of less than 1 percent. Bitnet also offers developer friendly APIs and SDKs, advanced analytics and pre-built third-party integrations to help convince companies to leverage their services.

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"We are listening to the world's largest merchants," said John McDonnell, co-founder and CEO of Bitnet Technologies. "Many of these bigger companies have looked at existing solutions and have remained on the sidelines -- until now. With Bitnet, we're building the integrations, systems and technologies that multi-national retailers and travel companies need in order to accept bitcoin.”

The funding was led by Highland Capital Partners and saw participation from Rakuten, FinTech and Webb Investment Network among others.

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