UK-Based IT Merchant MoreFrom Partners With Utrust To Accept Crypto Payments

News, Now Accepting | October 17, 2019 By:

UK-based independent online IT retailer MoreFrom has partnered with crypto payment solution Utrust to offer consumers the ability to purchase electronics from over 600 brands using top cryptocurrencies.

Founded in 1992, MoreFrom is part of the multi-million pound turnover Retail Group, providing IT, technology, consumer electricals, mobile phones and gaming products to consumers and businesses throughout the UK. With headquarters in Sheffield, MoreFrom provides UK wide coverage, offering over 200,000 products from the world’s major manufacturers.

Based in Switzerland, UTRUST is a cryptocurrency payment solution designed to modernize the finance and payments industry and solve the problems of traditional payment methods by offering instant transactions, buyer protection, and immediate crypto-to-cash settlements for the merchant. The company was granted SRO approval to operate as a ‘financial intermediary’ under VQF, the self-regulatory organization approved by Switzerland’s independent financial-markets regulator, FINMA.

The partnership enables MoreFrom customers to purchase their favourite hardware, from computers and phones to gaming and drones, with major cryptocurrencies, such as bitcoin (BTC), Ethereum (ETH), DASH, DigiByte (DGB) and Utrust’s own UTK. The partnership also allows MoreFrom to settle payments directly to its bank in fiat on the very same day they are received, offering protection from any risk of potential market volatility.

“Cryptocurrency payments mark the next frontier in the evolution of the consumer electronics market as consumers demand the highest level of security and efficiency when paying for hardware,” said Chris Wheater, MD of MoreFrom. “Thanks to Utrust, MoreFrom remains at the forefront of the industry introducing cryptocurrency payments to provide the best possible buyer experience for our consumers.”

According to Utrust, its core technology will allow MoreFrom 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.

“MoreFrom is a fantastic addition to the Utrust merchant network, allowing customers to pay for globally recognized products such as Samsung and Fitbit, with top cryptocurrencies,” said Utrust CEO Nuno Correia. “As more independent vendors like MoreFrom integrate cryptocurrency payment methods into their platforms, the standard of buyer protection and ultimately customer satisfaction will improve. With the UK consumer electronics market projected to reach over €19 billion in 2020, and the UK gaming market expected to be worth £5.2 billion by 2021, we are thrilled to be driving the growth of cryptocurrency payments even further by partnering with MoreFrom.”