American wholesaler H&M Distributors, Inc. has announced that it will accept payments in cryptocurrency. Since its inception in 1997, H&M Distributors has established itself as providing cost-effective replacement ballasts, lampholders, and lampholder accessories. Through a partnership with crypto e-commerce platform Chimpion, retailers can now purchase products from H&M Distributors in Bitcoin Diamond (BCD), Bitcoin Cash (BCH), Bitcoin (BTC), Dash, Ethereum (ETH), Litecoin (LTC), Zcoin (XZC), and more.
“After more than 20 years in the business, we consider ourselves experts in specialty lighting,” said 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.”
By paying with cryptocurrency, retailers around the world will have unprecedented access to H&M Distributors’ vast collection of products with lightning fast transactions that take just minutes to process. Furthermore, thanks to drastically reduced transaction fees (less than a penny), eliminated currency conversion fees, and freedom from chargebacks, H&M Distributors is able to pass on even more savings to their customers.
Over the past several years, cryptocurrency has emerged as the next evolution of currency, thanks to its convenience, cost-effectiveness, and decentralization. Designed as a means of transaction as peer-to-peer electronic cash, it matches the functionality of traditional fiat currency and goes beyond in efficiency, accessibility, and security. Bitcoin, the first cryptocurrency, was launched in 2009, and hundreds of other digital currencies have since followed. In December 2017, the total market capitalization of cryptocurrency reached a staggering $818 billion, subsequently correcting above $200 billion.
About H&M Distributors, Inc.
Launched as a vision of CEO Herb Needham in 1997, H&M Distributors, Inc. started out by distributing Shatter-Resistant Fluorescent light bulbs from a patent developed and designed by Herb Needham, and was later sold to GE Lighting as the Cov-R-Guard Fluorescent.
Today, H&M Distributors has become an “On-Demand Stocking Master Distributor,” meaning that they build their inventory based on the needs their customers express. This inventory is complemented by a knowledgeable Technical Support team to assist with product crosses, wiring, and any other technical information.
Chimpion is a cryptocurrency e-commerce platform that enables any merchant to begin accepting cryptocurrency payments online. By holding Chimpion’s Banana Token (BNANA), merchants can gain access to Chimpion’s robust crypto e-commerce platform for free, without needing to pay a monthly subscription fee. Chimpion was developed using technology from Shopping Cart Elite, Paytomat, and Bitcoin Diamond (BCD) and combines comprehensive e-commerce features with convenient payment processing.
Chimpion’s primary goal is to drive the adoption of cryptocurrency as a payment solution by operating a rich e-commerce platform centered around digital assets. New startups and established merchants alike can become part of Chimpion’s vast network to take advantage of its fast and affordable transactions and user-friendly infrastructure.
About Bitcoin Diamond (BCD)
Bitcoin Diamond is a Bitcoin fork that was created to solve the slow transaction confirmations and high threshold requirements of Bitcoin. Through BCD Pay, business owners are able to offer their products to a global market without needing to absorb expensive fees from international payments. Furthermore, with BCD Pay, business owners do not have to worry about costly chargebacks from indecisive or fraudulent customers.
Earlier this year, BCD debuted BCD Bazaar, an international marketplace that gives customers access to a wide range of products from across the world by accepting payments in Bitcoin Diamond (BCD) or Bitcoin (BTC).