No Bitcoin for Amazon purchases

Posted by: Maxine Brimmer (3 years, 6 months ago)

Despite a startling rocket to international prominence in the middle of 2013, Bitcoin’s later exploits have been a little less stable, particularly following a spate of high-profile thefts. Although it’s too soon to tell what the ultimate fate of crypto currency will be, Amazon’s decision to steer away from Bitcoin is a sign that not everyone is ready to embrace the supposed financial revolution yet.

Many retailers and services have slowly begun to accept the use of Bitcoin for regular transactions, but Amazon has been less ready to jump on the digital bandwagon. Although there has been a lot of press speculation regarding the retail giant’s final decision, the company’s head of payments, has reportedly confirmed that there were no plans to begin accepting Bitcoin.

Tom Taylor, head of Amazon payments, told technology site Re/code that the company had considered the possibility, but there were no plans to take on the currency yet. While online marketplace eBay has allowed for some use of Bitcoins in the US and UK sites, the crypto currency has largely only been fully embraced by smaller retailers.

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