TOKYO -- Infobip is rolling out its ¥Coins virtual currency, which allows international content providers to monetize their services in the Japanese digital and mobile content market.
The company claims to be the first international payments provider to offer this type of service not only to local companies, but also to those without a presence in Japan.
As a virtual currency, ¥Coins, or Yen Coins, are tokens exchanged for digital and virtual goods in games, social networks and online worlds, and are accepted in all services of a single provider.
A mobile or online user purchases ¥Coins using a prepaid or post paid mobile account. Alternatively, game cards from Japan's leading providers are accepted for payment.
The Japanese government requires companies to have a local presence in order to launch a paid content or "m-payment" service. The turnkey Infobip ¥Coin platform provides that presence, allowing companies to break into the Japanese market.