Time Inc. has partnered with Coinbase, the popular bitcoin wallet, to become the first major magazine publisher to accept bitcoin payments. The initiative was launched recently with Fortune, Health, This Old House and Travel + Leisure, now accepting bitcoin among the wide variety of payment options for subscriptions.
"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 an official press release. "We hope to expand our partnership with Coinbase in the coming months to create more opportunities to provide greater value to our customers.”
Time Inc. joins a growing list of businesses, such as Overstock.com, Google and expedia, partnering with Coinbase to integrate bitcoin into their customer payment options.
“For a major publisher like Time Inc. to embrace bitcoin sends an important message to both its readers and to the broader media community,” said Brian Armstrong, CEO & co-founder of Coinbase, in an official press release. “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.”
Beginning today, anyone with a Coinbase wallet can use bitcoin to purchase subscriptions to Fortune, Health, This Old House and Travel + Leisure.
Founded in June 2012, Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin. It offers the most comprehensive bitcoin service on the planet, allowing people and business to easily and securely buy, sell, store and transact in the digital currency.