What is a Digital Currency?

Digital currency is a general term for currencies that can be converted into digital data and exchanged (purchased) for services and goods. Although not clearly defined, the following three are typical examples of digital currencies.


● Electronic money





● Virtual currency (cryptographic assets)



● Central Bank Digital Currency (CBDC)

Electronic money is a digital currency that replaces the legal currency (yen) with digital data, such as transportation IC cards such as Suica, Monaco, and quickly. And so on.

The features of e-commerce are that it is convenient to complete the process from deposit to payment quickly and that it is necessary to charge in advance if it is a prepaid type.

Cryptocurrency is a property value that can be exchanged on the Internet, and is a general term for monetary settlement that can be recorded and transferred electronically.

The characteristic of monetary currency is that it is easy to transfer money between individuals, and especially the fee for overseas remittance is cheaper than using a bank. On the other hand, the balance between supply and demand is liable to change, and the value fluctuates sharply.

Central bank-issued digital currencies are currencies issued as a debt of a central bank denominated in digitized fiat currency.

The characteristics of Central Bank Digital Currency are that it saves the trouble and cost of issuing the same amount of money in banknotes and coins, and simplifies procedures such as tax payment.

On the other hand, there is also the feature that the burden on the store side will increase due to the installation of terminals for handling digital currencies issued by the central bank and the increase in operations other than cash.

Advantages and disadvantages of individuals using digital currencies

There are advantages and disadvantages to using digital currencies individually. In the next section, I will explain the advantages and disadvantages of digital currency as an individual. The benefits of using digital currencies for individuals are:

● Digital currency takes a short time to complete payment

● No need to carry cash

● Points are given according to the payment amount

● No pre-charge is required if linked with a credit card

● No examination is required and easy to make even for minors

The biggest advantage of digital currencies is the short time to complete payment. For example, with QUICPay, payment is completed simply by holding it over a dedicated terminal, which shortens the payment time.

It also eliminates the need to carry cash, allowing you to shop empty-handed and save you the trouble of receiving change at the time of payment.

It depends on the digital currency, but it is also an advantage that points are given according to the payment amount. With the Saison Card, 1 permanent immortal point (equivalent to about 5 yen) will be awarded for every 1,000 yen (tax included) paid.

With cash, there is no point in redemption, so it is more profitable than paying the same amount in cash.

In addition, the post-pay method, which can be linked with a credit card, does not require pre-charging, and electronic money, which is a digital currency, often does not require examination and has the advantage of being easy to make even for minors.

Demerit

The disadvantages of using digital currencies for individuals are as follows.

● Use is limited to the target stores

● The prepaid method requires pre-charging

● The maximum amount is set for one payment

● There are various types and it is complicated to use and manage

● Charge (payment)  

Then, digital currencies that are difficult to return to cash can be used only at the target stores. Suica can only be used with Suica-compatible transportation and stores, and payments at stores that do not support it will be in another digital currency or cash.

Also, if you use the prepaid method, you cannot use it unless you charge it in advance, and there may be a maximum amount set for each payment.

In addition, since there are various types of digital currencies, there are disadvantages such as complicated usage and management, and in many cases, when charged, it cannot be returned to cash.

Advantages and Disadvantages of Businesses Using Digital Currency

There are advantages and disadvantages when businesses use digital currencies. In the next section, we will explain the advantages and disadvantages of digital currencies as a business.

Merit.

The advantages of using digital currencies for businesses are as follows.

● Shortening payment operations ● Reduces

cash management efforts

● Can propose a wide range of payment methods to individuals (users)

Benefits of using digital currencies for businesses that hold campaigns related to digital currencies One is the shortening of payment operations. In the case of cash payment operation, the payment amount is entered at the cash register, the cash issued by the individual is visually checked, and if there is a change, the payment is made.

This series of flows is shortened with digital currencies. It also has the advantages of reducing the risk of change mistakes because change does not occur, and reducing the time and effort of cash management during closing hours.

By introducing digital currency, it is possible to propose a wide range of payment methods to individuals (users). By increasing the choices, if individuals have more opportunities to pay at the store, sales can be expected to increase.

In addition, digital currencies are also characterized by holding regular campaigns, which leads to opportunities to attract customers.

Demerit

The disadvantages of using digital currencies for businesses are as follows.

● A fee is charged for each payment ● A fee is charged when monetizing

● It is necessary to install a dedicated payment terminal

The disadvantage when a business operator introduces digital currency is cost. Depending on the digital currency, a settlement fee will be charged at the time of payment, and a withdrawal fee may be charged when monetizing. In addition, digital currency requires a dedicated payment terminal that supports it, and there is a cost to install that payment terminal. The credit card that goes well with digital currencies



There are three main methods for depositing electronic money in digital currency.

● Cash

● Account withdrawal

● Credit card The

recommended deposit method is a credit card. This is because credit cards are given points according to the amount paid.

Depending on the electronic money deposited with a credit card, if you pay with electronic money, you may be given points for electronic money and credit card respectively.

Also, if you have a credit card, you can link it with post-pay e-commerce and make it available 24 hours a day.

Among the prepaid methods, there is also electronic money that allows you to use a credit card when charging on the Internet.

There are various types of credit cards, but if you want to link them with electronic money, which is a digital currency, Saison Pearl American Express (R) Card Digital is recommended.

Saison Pearl American Express (R) Card Digital is available on your smartphone in as little as 5 minutes.

Saison Pearl American Express Card Digital is a digital card issued on your smartphone in as little as 5 minutes after passing the examination, enabling online shopping and e-commerce payments.

The annual membership fee is free for the first year, and if you use even 1 yen in the previous year, the annual membership fee will be free for the following year, and you will also receive the following special benefits.

● Shopping using QUICPay will return points equivalent to about 3% (*) of the usage amount (tax included)

● 5% off payments for Seiyu, Livin, and Sunny on the monthly Saison Card Thanksgiving Day

● ABEMA on Internet TV Premium is free for 3 months

● Points up to 30 times when

shopping online via Saison Mall There are many special benefits related to shopping, but the most eye-catching is the special benefit for shopping using QUICPay.

quickly is an e-commerce payment system that can be used at more than 1.33 million locations nationwide, and can be used for payment at supermarkets, convenience stores, restaurants, cafes, etc.

If you pay QUICPay with Saison Pearl American Express Card Digital, you will receive 6 permanent immortal points (equivalent to about 30 yen), which is 6 times the normal amount, for every 1,000 yen (tax included) paid.

Furthermore, if you are under 25 years old, register as a member of "Saison Classe" and pay at QUICPay at the target convenience stores (Seven-Eleven, Lawson, FamilyMart), and the return rate of permanent immortal points will increase by 2%. It is equivalent to 5% (10 times normal) in total. Saison Classe can be easily registered from Saison Portal, so please take advantage of it.

quickly is a highly convenient digital currency that can be settled just by holding it over, and it is a recommended combination because the point return rate will be higher when combined with Saison Pearl American Express Card Digital.

Digital currency is a currency that is beneficial to both individuals and businesses

Digital currency is a common name for currency converted into digital data. Electronic money, virtual currency (cryptocurrency), and Central Bank Digital Currency (CBDC) are typical examples of digital currency, and the most familiar ones are transportation IC cards and electronic money for smartphone payments.

E-commerce, a digital currency, is a currency that is beneficial to both individuals and businesses, and if used wisely, it will enrich lives.

Credit cards are recommended for individuals to use e-commerce, and Saison Pearl American Express Card Digital is a digital card issued in as little as 5 minutes from the examination, and the point return rate and benefits are attractive.