Amazon nixes the idea of accepting Bitcoin

Even though the fledgling cryptocurrency is gaining momentum, the e-commerce giant has no plans to start allowing it.

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CNET

While some online retailers have either accepted or are warming to the idea of allowing Bitcoin payments, Amazon apparently isn't there yet.

The head of Amazon payments Tom Taylor told Re/code that while the e-commerce giant has thought about the use of virtual currency, it has no plans to start accepting it.

"Obviously it gets a lot of press and we have considered it," Taylor told Re/code, "but we're not hearing from customers that it's right for them and don't have any plans within Amazon to engage Bitcoin."

Digital currency payments aren't necessarily taking the world by storm yet, but they are definitely gaining momentum. Overstock, TigerDirect, and other small online retailers have started accepting them. And, even eBay has allowed for limited sales of bitcoins on its US and UK sites.

While Bitcoin has been on a years-long roller coaster ride -- with its value surging and plummeting, regulators applauding and dismissing it, and trading exchanges being created and imploding -- the digital currency is gradually transforming from an obscure idea into a possible payment mechanism.

Still, it appears that it will be awhile until Bitcoin reaches the mainstream and is accepted by top e-commerce sites like Amazon.

CNET contacted Amazon for comment. We'll update the story when we get more information.

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