“Time” to Accept Bitcoin

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“Time” to Accept Bitcoin

ForexMinute.com – Time Inc., one of the world’s leading media companies, recently announced to accept Bitcoin payments for their digital and print subscriptions of Fortune, This Old House, Health and print subscriptions of Travel + Leisure.

The company meanwhile appointed Coinbase as its official payment processing gateway using which customers will be able to buy the aforementioned subscriptions.

Following the announcement, Time became the first major media house to accept a cryptocurrency and further paved way for other competitors to enter this flourishing payment sector. The news came like another Christmas for Bitcoin which, just a few day back, was also accepted as a payment alternative at Microsoft’s US-based online store. Time is currently followed by over 130 million readers.

“We are always looking for ways to make it easier for consumers to engage with our brands and this pilot program will give bitcoin users a seamless and simple way to purchase subscriptions,” said Lynne Biggar, Executive Vice President, Consumer Marketing + Revenue, Time Inc. in a press statement. “We hope to expand our partnership with Coinbase in the coming months to create more opportunities to provide greater value to our customers.”

“For a major publisher like Time Inc. to embrace bitcoin sends an important message to both its readers and to the broader media community,” added Brian Armstrong, CEO & co-founder of Coinbase. “In addition to providing consumers with an easy, convenient way to pay for their subscriptions, it also opens the door for Time Inc. and publishers like it to familiarize themselves with the Bitcoin technology and explore new applications across the industry.”

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com