Avnet, one of the world’s largest distributors of electronic components and services, is now accepting payments through a partnership with payments processor BitPay.
Announcing the on Tuesday, the Fortune 500 firm said its can now pay in () and cash (BCH) for products and services, with BitPay then verifying and processing those payments.
“We’re working with BitPay to facilitate secure payments for all types of so they can focus on developing their products, not how to pay for them,” said Avnet vice president of demand creation Sunny Trinh.
payments can reduce the “time, cost and complexities of bringing products to market,” Avnet said, adding that it has already closed “several multi-million-dollar” transactions within the first month of accepting payments.
The makes Avnet the third largest technology company in the U.S. (behind only and ) to accept payments, a spokesperson for Avnet told CoinDesk.
BitPay’s chief commercial officer, Sonny Singh, said:
“Not only is paying with easier and faster than with credit cards and bank wires, it is less expensive and acceptance of it is growing.”
Avnet is also working with .com to develop a new hardware to enable storage and provide the “highest level of security” for transactions, according to the announcement.
In January, BitPay said it processed over -worth of transactions in 2018 for the second year in a row.
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Published at Tue, 19 Mar 2019 15:13:13 +0000
