1-800-Flowers.com Inc. will start accepting bitcoin, a virtual currency that is growing in popularity, as payment for online transactions.
The online florist and gift shop company said it will begin accepting bitcoin in the fall. Coinbase, based in San Francisco, will process bitcoin payments for the Long Island company.
Bitcoin is a non-regulated digital currency that buyers and sellers exchange over the Internet without bank involvement. Bitcoin payments will be accepted across the parent company's other brands, which include FannieMay.com, Cheryls.com, ThePopcornFactory.com, 1-800-Baskets.com, FruitBouquets.com, and Stockyards.com.
The growing list of companies that accept bitcoin payments includes Overstock.com, Lord & Taylor and Dish Network.
1-800-Flowers.com says it has a record of technological innovation, such as being the first merchant to conduct a transaction on America Online and the first e-commerce company to allow customers to complete a transaction through their Facebook page.