Phone House, one of Europe’s largest electronics retailers and telecommunications providers, today announced it will accept bitcoin and other cryptocurrencies for payment via a new partnership with UTRUST, a crypto payment solution.
Starting from August 14th, Phone House customers in Portugal will be able to purchase electronics online using cryptocurrencies supported by UTRUST. The option to pay with cryptocurrency on the Phone House website will initially roll out in Portugal, with other countries to be added in the coming months.
“We are excited to announce our partnership with UTRUST, making payment through cryptocurrency possible for our Phone House customers. This announcement coincides with the redesign of the phonehouse.pt online store. We are living through challenging times for retailers, defined by constant change and new concepts. At Phone House we are innovating and anticipating these changes, and through this partnership with payment platform UTRUST, we are positioning ourselves as a first mover.”
– Pedro Brehm, General Director of Phone House Portugal
With UTRUST’s solution, Phone House will be able to settle payments directly to its bank in fiat on the very same day they are received, shielding them from any risk of market volatility.
“We’re delighted to be adding Phone House as our latest merchant and offering their customers and the crypto community as a whole the option of paying for electronics using a variety of cryptocurrencies. Secure, protected and efficient payment methods are what motivates our work at UTRUST and being able to bring this to more people is hugely positive. This follows on from our recent partnership announcement with major football club S.L. Benfica and we look forward to adding more merchants in the coming weeks and months.”
– UTRUST CEO, Nuno Correia
The consumer electronics sector has a significant presence in Europe, receiving close to €56 million in revenue in 2018 and projected to show an annual growth rate of 7.1% before 2023. UTRUST now provides a secure method for consumers purchasing from Phone House online using cryptocurrencies.