Phone House Partners With UTRUST To Accept Cryptocurrency Payments


Purchasing consumer electronics online with digital currencies made safe and convenient

Zug, Switzerland – 25 July, 2019 – Phone House, one of Europe’s largest electronics retailers and telecommunications providers, has partnered with UTRUST, the leading cryptocurrency payment solution. From  August 14th, Phone House customers in Portugal will be able to purchase electronics online at using cryptocurrencies via secure and protected payments. 

The consumer electronics sector has a significant presence in Europe, receiving close to €56million 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 by guaranteeing buyer protection to these customers. 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.

UTRUST is working to revitalise the retail payments industry by providing instant and seamless crypto-to-fiat conversions, thereby benefiting and protecting both buyers and merchants. Most importantly,  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.

Commenting on the latest partnership, UTRUST CEO, Nuno Correia, said,
“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. ” 

Pedro Brehm, General Director of Phone House Portugal, added:
“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 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. 

This partnership grants Phone House access to a broader customer base and offers consumers a significantly enhanced online experience through the implementation of novel technologies. For customers, paying with cryptocurrency is quicker, more secure and more transparent than any other online payment method. With the UTRUST platform, users can pay using the native UTRUST token (UTK) in addition to popular cryptocurrencies including Bitcoin and Ethereum.

UTRUST’s core technology will allow Phone House to take advantage of the increased security and convenience of cryptocurrency payments.  It will also significantly reduce processing fees and eliminate inconvenient credit-card chargebacks and fraudulent payments to bring greater transparency and trust to the world of online payments.

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