Infobip says virtual currency will help developers crack Japanese mobile content market
The mobile messaging and mobile payments provider Infobiphas launched a virtual currency service aimed at local and international content providers who want to establish themselves in the Japanese market.
¥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, the company said in a news release.
With the launch, Infobip said, it becomes the first international payments provider to offer this type of service to companies without a Japanese presence,
"¥Coins mark Infobip's entry in the Japanese market, and we're truly excited about this opportunity," Paolo Rizzardini, vice president, mobile payments, Infobip, said in a news release. "We expect to bring our expertise in mobile payments and our global customers to Japan, and confirm our worldwide market-leading position."
¥Coins are designed to provide an easy and convenient method for international content providers to monetize their services in the promising Japanese digital and mobile content market, the company said.
The consumer, whether a mobile or online user, purchases ¥Coins through direct mobile billing, charging the amount directly to his or her prepaid or post-paid mobile account; the company said the service is available on all mobile operators in Japan. Game cards from Japan's leading providers also are accepted for top-up.
Japan has specific market requirements and regulation, Infobip said, requiring a local presence to launch a paid content or m-payment service. The company said ¥Coins' turnkey solution will help aspiring companies break into the Japanese market.
"Launching in any new market is a daunting task, but Infobip knows the Japanese market well," Ilija Krklec, Infobip's business development manager for Japan, said in the release. "With ¥Coins, international content providers get the opportunity to monetize their services in Japan and enter this demanding but profitable market".
Infobip will present ¥Coins for the first time at the Tokyo Game Show this weekend.
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Companies: Infobip / Centili