In this big race of adoption, one of the biggest jewellery retailers, Mark Jewelers recently announced that they would be adding multiple cryptocurrency payment options for their customers. This is one of the steps taken by the company to reach the global expansion proportions.
The Jewellers decided to add the cryptocurrency payment option for the customers to pay lower transaction fees for cross-border transactions and avoid pitfalls due to the centralized banking system such as chargebacks. They aim to use the blockchain and its poster technology to use the opportunity of making their store open to the world.
The cryptocurrency being supported for the payments are Bitcoin [BTC], Bitcoin Cash [BCH], Bitcoin Diamond[BDC],Bitcoin Gold [BTG], Ethereum[ETH], Litecoin[LTC], Dash and Zcoin [XZC]. This marks a big drive towards adoption in partnership with the shopping cart elites and e-commerce platform.
The Business has been functioning for 35 years and offers products such as very fine diamonds, engagement and jewellery rings, jewellery and timepieces. The JEWLVISION program is something which this retail shops is known for, which offers an opportunity to the customers to create custom jewelry for a special occasions.
The Director of Marketing for Marks Jewelers, Joshua Rubin, said in a statement:
“We are very excited to begin accepting cryptocurrency payments from our customers around the world. This will allow us to make our fine jewellery available to the Global Market while paying lower fees and avoiding chargebacks. Mark has long been known for our meticulous craftsmanship and curated selection, and we are thrilled to open our store to the world”
The payment system will be slowly adding other cryptocurrency in the payment options and make them a genuine medium of exchange. The reason they claim to choose the cryptocurrency is to reduce international money transfer fees and pass savings on to customers.
Author: Anirudh VK
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