no bitcoin cracked bitcoin

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Commerce


Like bitcoin? Like Amazon? Want to use bitcoin to buy stuff from Amazon?

I have some bad news for you. Not going to happen anytime soon.

“Obviously it gets a lot of press and we have considered it,” Amazon payments head Tom Taylor told Re/code in a recent interview, “but we’re not hearing from customers that it’s right for them and don’t have any plans within Amazon to engage bitcoin.”

Amazon isn’t alone in this stance among big e-commerce sites. EBay, Walmart.com, Target.com and other big names have shown no signs of moving toward acceptance. Probably the most well-known online seller to accept the digital currency is Overstock.com, which sells furniture online and has a comparatively modest market cap of $413 million.

Still, Taylor wouldn’t deny there are some advantages to a global currency, but said Amazon’s sellers have more urgent needs — such as dealing with foreign exchange rates, for example — that the company will focus on in other ways.

The talk of bitcoin also led us to a discussion about credit card companies and the limited data they see about each transaction and how that prevents them from helping merchants deeply understand their customers’ shopping behavior.

I mentioned to Taylor that many industry execs expect Amazon to eventually build its own full-blown payments network to compete against the big credit card companies. Will we see a day when the Amazon logo appears at a checkout counter alongside American Express, Visa and MasterCard?

“If we felt like we could do a better job than Amex and Visa, and feel like it helps the customer experience, that’s something we would do,” he said. “But it would really have to be something much better than [what they do].”

Industry sources familiar with Amazon’s business believe it’s a question of “when,” not “if,” but Taylor wouldn’t provide any further details on the company’s thinking.



10 comments
DorianGray
DorianGray

Better than Amex? Yeah, good luck with that

PragueBob
PragueBob

Bezos is a Bilderberger, so obviously he's against Bitcoin.

wontonotnow
wontonotnow

If Amazon is spending millions on a wonky drone-delivery system they can do a prototype bitcoin transaction system no problem.  If an effing amazon drone flies above my house  I will start investing in gun manufacturers. I'm thinking they consider BTC a competition against their own secret-soon-to-be-released-method of online transaction, but perhaps that's just my tinfoil hat speaking.  All they need to do is make a special offer on a certain product that the bitcoin users like (probably tech-oriented) and watch the insane level of purchases in support.

Kent L
Kent L

Indirect ways like Gyft or Purse.IO exist in the mean time. 


Disclaimer: I am a founder of Purse.IO

Bill44
Bill44

I still don't understand, why you use the bitcoin if the dollar has not collapsed? ​I go on websites like http://bitcointrades.com and they accepting no dollars just the bitcoins. This is bad business for internet commerce

Lakersforlife
Lakersforlife

@Kent L

 I'm a little confused... i don't see how I can use this to buy stuff on amazon with bitcoin?

kennys
kennys

@Kent L


http://purse.io is legit!


literally just bought a chromebook for 15% off with bitcoin on Amazon, got the Acer c720 for $172.13 after all taxes


wonder how long before the secret is out :)

wontonotnow
wontonotnow

@Bill44  Read up some more, there's some great potential for using bitcoin, mostly on the merchant-side and international commerce.  Some savings may start trickling down to consumers in the form of discounts.  Currently arbitrage is the biggest driving force in consumer adoption but things are going to be pretty hectic over the next year or so:  Sink or Swim, we'll see if Amazon changes direction over the next year or two.

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