H&M Distributors will now accept crypto payments as the company stated their new built hope for the new currency.
H&M Distributors To Accept Crypto Payments
As of today, the American company called H&M Distributors– established in 1997– will be on the front seat of crypto adoption as it was announced that H&M Distributors offers to be paid using some of the most used cryptocurrency in the world. These include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), Bitcoin Diamond (BCD), etc.
Although this company is not as famous as the Swedish multinational clothing-retail company Hennes & Mauritz AB or the H&M, the fact that this company shared the same principle of having cryptos adoption speaks a lot of volume for the industry.
More Opportunities To Come For The Company
According to the H&M Distributors founder and CEO Herb Needham, the company that he built serves for the people’s needs around the world and having crypto as their method of payment gives a direct path for more opportunities for H&M Distributors locally and especially, internationally.
Aside from this, Needham believes that in this way, the faults of having bank system, that usually has a lot of restrictions, will be slowly disregarded on their newly applied method system in the company.
“After more than 20 years in the business, we consider ourselves experts in specialty lighting. Accepting cryptocurrency payments allows us to share that expertise with even more clients by removing many of the barriers that made it difficult to sell internationally before. What sold us was the settlement system, which allows us to convert crypto payments to a USD equivalent right away.”
Needham also explained that through their newly applied method of payment, customers might even avail their products on lower prices as transaction fees will be ‘drastically reduced’ and chargebacks will be lessened completely.
Furthermore, he said the new partnership by H&M would be associated with the cryptocurrency e-commerce platform. Chimpion.
A lot of companies already partnered with cryptocurrencies in the past. These major retailers are Microsoft, Overtock.com, Shopify, Dish, Cheapair and many more to come in the future.
Having A Gift of Convenience
The gift that cryptocurrencies give to people and businesses were easily being applied to their system all over the world. As predictions usually arise through these years, cryptocurrencies continues to be on its feet and march towards its way of mainstream adoption — whether you like it or not.