First, it was the news that Brisbane International Airport now accepts cryptocurrency as a means of payment, now is the information that Southern Cross Backpackers is also accepting NEM (XEM) as a means of payment.
This was aired in a tweet issued by TravelbyBit today.
“Travelling the world using digital currency is easier than you think. Southern Cross Backpackers in #VisitAgnes1770 accepts NEM and four other digital currencies. We stopped by tonight for a look around, a fireside chat, and a few rounds of table tennis.”
Earlier, NEM announced that its currency, XEM, has been made available for payment at the Brisbane Airport adding to the news that around 4 cryptocurrencies are being accepted in that Airport.
“Brisbane Airport to offer cryptocurrency payment facilities — thanks to @TravelbyBit! These merchants proudly accept #NEM $XEM as payment!”
The acceptance of Cryptocurrency at Brisbane Airport, which is ranked the third busiest in Australia, was initiated by a partnership between Travelbybit, an Australia payment provider and Brisbane Airport Corporations’ (BAC). The partnership, which pointed NEM among the numbered coins, is expected to increase the acceptance of NEM in other airports.
“We’ve got travelers from all over the world testing it out and I think the merchants are really excited — They have been telling us they have been getting a lot of interaction from all the different visitors and that’s created a bit of a buzz,” the CEO of Travelbybit, Caleb Yeoh explained.
One of the representatives BAC, in his own statement while acknowledging the partnership said that the company aims at making payment a piece of cake for customers, and it believes that the partnership will help retailers uphold relevance and resilience against the threat of online shopping.
With the development, it was stated that merchants at the airport have also started accepting digital currencies as a mode payment, increasing the adoption of NEM among other coins in the air transportation industry.
Jason Lee, a trader at Forte Café in the airport is amongst the merchant who has begun receiving Cryptocurrency as payment option.
Interestingly, in a report by Skynews, over 30 stores are to join in the wide adoption.
NEM: More Use Cases Unfold.
One of the major altcoin that can be used as payment rails and micropayment is NEM. Although it is a Java-based cryptocurrency which fully came on board in 2015, it invented a consensus mechanism regarded as Proof of Importance (PoI) that is fabricated to reward users’ contribution to the NEM community.
Among the reasons NEM outweighs Bitcoin is that it has an average block time of just 60 seconds, and customers can confirm their payment nearly immediately. NEM has a low transaction fee. For example, the transaction cost of 10k XEM (~4,000 USD) is around of 0.05 XEM (0.02 USD) for confirmed transaction within a minute.
In the same vein, unlike Bitcoin, NEM’s blockchain characteristics give it the opportunity to be used as micropayment means and as a network to track ownership, right of lands and intellectual belongings.
For a better transaction, it is no doubt that NEM (XEM) is an important cryptocurrency available for wide adoption in the cryptocurrency space.