Bitnet gets 14.5 Million USD

BitnetThe wind of change is blowing in the Bitcoin payment business. Bitnet, a platform to process Bitcoin payments, get venture capital in the amount of 14.5 Million USD to engage in competition with Coinbase and Bitpay. But that’s not all. Rakuten, the biggest e-commerce website in Japan, invests in Bitnet, too. And they plan to use the service as a payment provider soon. So Bitnet could be a real competition for other Bitcoin payment sites like Coinbase and Bitpay. John McDonnel, CEO of Bitnet, said that they have their own platform for companies which will put pressure to other similar services.

The top executives from the new Bitcoin payment service know the payment business well. They come from Visa and Cybersource, which was bought by Visa in 2010. McDonnel said, that they realize the possibility to use their knowhow from the past to make Bitnet the biggest online service for Bitcoin payments. They want to help companies to change their payment sytems from creditcards to Bitcoin to cut down transaction charges. And they want to give a profound support to make the integration possible.

McDonnel believe that companies as yet face problems with the integration. And he thought that is the reason why big businesses fight shy of Bitcoin. The start with the e-commerce giant Rakuten is a good way to gain the trust of other major enterprises. But certainly it’s not an easy way Bitnet have to go.

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