Another day, another big company that starts accepting payments in cryptocurrency. It seems that it has become a trend, and now Samsung is joining it. Samsung, the giant Korean manufacturer has started to accept cryptocurrency payments in several European nations, in a move that looks like a pilot run for something bigger, according to an article published by CoinJournal. Samsung adopting cryptocurrency payments would be a big hit for the cryptocurrency industry and would boost adoption in a major way.
CopPay is a cryptocurrency payment processor that allows for easy integration of his services within merchants platforms. They firmly believe in the use of cryptocurrencies as a method of paying for goods and services worldwide and making it easy for merchants to avoid volatility changing funds immediately to fiat. Copay declared that:
“There is a growing trend toward business digitalization and allowing customers to pay for goods and services in cryptocurrency, whether at global retailers or local restaurants,”
Luckily for them, Samsung chose the startup as a strategic partner to start accepting cryptocurrency payments in their official stores in the nations of Estonia, Latvia, and Lithuania. Clients will be able to purchase consumer electronics articles like TVs, personal computers, phones and anything that is available in their official stores. While most big manufacturers and retailers have tried to stay away from cryptocurrencies due to volatility and scalability issues, Samsung has tried to sidestep this issues by relying on CopPay to sort them out.
Samsung is one of the biggest and most known brands of consumer electronics, software, and enterprise solutions, and them adopting cryptocurrencies as a payment method is a big step that shows that cryptocurrency is being more and more relevant in the retail sales payment segment. This could also act as the beginning of a snowball effect, making other stores and manufacturers accept cryptocurrencies in their official stores.