Global bitcoin merchant payment processor and solutions provider Bitpay has partnered with a family-owned and Amsterdam-based high-end jeweler Ace Jewelers Group, allowing the highly respected company to become Europe’s first jeweler and high-end watch authorized dealer to accept the disruptive digital currency.
Ace Jewelers’ Co-CEO Alon Joseph states that the deal with BitPay is one of the major initiatives the firm is taking to establish the presence of its e-commerce store. Since 2010, Joseph has observed the growth of bitcoin as a currency and as a viable alternative to bank transfer, credit card payments, and other online financial platforms like PayPal. Considering the global adoption rate and the benefits for both the merchant and consumers, Joseph believes that now is the perfect time for Ace Jewelers to accept bitcoin.
“While the technology seemed puzzling at first, bitcoin is now turning into a viable alternative to other payment methods such as PayPal and bank transfer. I think the time is right for the retail world to start embracing it on a bigger level and I am proud that Ace Jewelers is among the first retailers to start working with bitcoin,” stated Joseph.
Since its launch in 1975, the Amsterdam-based jeweler has maintained its reputation as the leading high-end jeweler and watch dealer for luxurious brands including Omega, Bulgari, Parmigiani Fleurier, Breitling and IWC. The company is also well known for its entrepreneurial and pioneering spirit. The Ace Jewelers team was the first Dutch jeweler to enter the e-commerce market with its products, managing a popular eBoutique store for international users in 2008. Because of the company’s innovative vision and determination to implement new strategies, products and services, the Ace Jewelers team will serve its customers with new generation payment methods like Bitcoin by partnering with reputable companies like BitPay.
“We’re pleased to be processing payments for a bitcoin first mover in the European luxury goods market,” said BitPay’s EMEA General Manager Marcel Roelants. “As a more secure payment method for high-value purchases, bitcoin will allow Ace Jewelers to reach more new customers online.”
However, the company will convert most of the bitcoin payments they receive instead of using them to cover their expenses.