H&M Distributors, a wholesaler and specialty lighting expert best known for its clothing brand, has announced it will be adding a new payment option—cryptocurrency. The purveyor of replacement ballasts, lampholders, and lampholder accessories will be accepting cryptocurrencies including bitcoin diamond, bitcoin cash, bitcoin, dash, ethereum, litecoin, and zcoin. More are expected to follow.
“After more than 20 years in the business, we consider ourselves experts in specialty lighting,” said H&M Distributors founder & CEO Herb Needham. “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.”
Cryptocurrency payments will be powered by a cryptocurrency e-commerce platform Chimpion. Besides decentralisation, cryptocurrency payments offer cheaper transactions, no currency conversion fees, and no chargebacks, making international payments easier.