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E-commerce firm integrates Bitcoin payments

By Retail Technology | Thursday June 26 2014

A global e-commerce provider has added Bitcoin as a payment option for its US retail customers

Bitcoin is the latest currency to join the ranks at US-based provider of Commerce-as-a-Service (CaaS) solutions Digital River.

The global e-commerce provider is adding Bitcoin as a payment option, allowing its US-based small to medium sized retail customers to accept payments in the digital currency.

Digital River has partnered with San Francisco-based Coinbase, a Bitcoin wallet and platform provider, to handle the conversion of Bitcoin into US dollars and process the payments alongside more traditional payment methods such as credit and debit cards, wire transfers, bank transfers and third-party wallets.

The e-commerce firm says this partnership allows it to mitigate the risks linked to the volatility of the digital currency market.

“Because Digital River acts as the merchant- and seller-of-record, our international base of customers can accept and process bitcoin payments in their U.S. online stores with less risk than they could on their own,” said Tom Peterson. “In addition, this business model creates an opportunity for our customers to offer payment solutions that may be in earlier stages of adoption in their domestic markets.”