Phone House, a recognized European electronics retailer and telecommunications provider, starts accepting Bitcoin (BTC) and other digital assets for customer’s payments.
The information was released by Crowdfund Insider a few hours ago. In order to accept these payments, Phone House partnered with UTRUST, a digital currency payment provider.
Phone House To Accept Cryptocurrencies
The new feature that would allow customers to pay using virtual currencies is going to start on August 14. Individuals in Portugal will be able to purchase the electronics they need and pay using virtual currencies.
In the future, other countries will have this functionality included.
Pedro Brehm, General Director of Phone House Portugal commented about this:
“We are excited to announce our partnership with UTRUST, making payment through cryptocurrency possible for our Phone House customers. This announcement coincides with the redesign of the phonehouse.pt online store.
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We are living through challenging times for retailers, defined by constant change and new concepts.”
The company explained that they want to keep innovating and face these new challenges that technology imposes. With UTRUST, the firm expects to be positioned as a first mover in the market.
Phone House will also be able to settle payments in a fast way to its bank account in fiat currencies at the time the payment is processed, which reduces exposure to volatility.
The CEO of UTRUST, Nuno Correia, said that they are offering customers and merchants a new option for paying for electronics through a variety of virtual currencies.
The consumer electronics sector is very important in Europe and it is expected to continue growing before 2023.
“We’re delighted to be adding Phone House as our latest merchant and offering their customers and the crypto community as a whole the option of paying for electronics using a variety of cryptocurrencies,” commented Correia.
“Secure, protected and efficient payment methods are what motivates our work at UTRUST.”
There are several companies around the world that decided to start accepting crypto payments for their goods and services.
One of them is Norwegian Air, an airline located in Norway that offers low-cost flights all around the world, including Europe and the Americas. The firm announced that they are working on this new functionality to be added throughout this year.
With Bitcoin and other virtual currencies, companies reduce the fees they have to pay for credit or debit card payments and make it easier for users that want to spend their digital assets.
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