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Companies

H&M Distributors to accept cryptocurrency payments

H&M Distributors, a wholesaler and specialty lighting expert, 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, ether, dash, ethereum, bitcoin cash, litecoin, zcoin and bitcoin diamond.

"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 decentralization, cryptocurrency payments offer no chargebacks and faster settlement fees.