Mattress Mattress to accept crypto currency for online payments

12 July 2021 Michael J. Knell

RED DEER, Alberta – Bedding specialist Mattress Mattress is in all probability the first Canadian mattress retailer to begin accepting crypto currency as a form of payment for all online purchases. Customers will be able to pay with their choice of either Bitcoin or Ethereum at the time of purchase, whether it be a new mattress, adjustable bed or sleep accessories.

“We’re excited about this new venture into crypto currency as payment for our products,” Eric Buchfink, founder of the family-owned retail chain, said in a statement, noting consumers around the world are slowly adopting digital currency as a standard means of payment for goods and services.

“People of all ages are investing, earning, and buying goods and services with crypto currencies, so it an easy decision. We believe crypto currencies are revolutionary. Smart contracts and distributed blockchain technology make transactions faster, easier, and more secure,” added Matt Fecho, Mattress Mattress director of Alberta operations.

Mattress Mattress, the regional mattress chain serving Alberta, Saskatchewan and British Columbia, has begun accepting Bitcoin or Ethereum for purchases made on its Shopify-provided e-commerce platform. Seen here is the exterior of their store in Kelowna. Chad Buchfink, who leads the company’s online sales division, told Home Goods Online, that to the best of their knowledge, Mattress Mattress is only furniture and mattress retailer in Canada who is currently accepting Bitcoin or Ethereum and he stresses they’re only accepting it for purchases made online, which operates on Shopify’s e-commerce platform.

“This is something we thought we’d try to once again differentiate ourselves from the competition,” he said. “We also feel it’s only a matter of time before most retailers consider it. According to Coinbase (a crypto currency exchange platform based in the United States), there are currently more than 8,000 merchants accepting cryptocurrency.”

Some of the larger companies already accepting crypto currency include Microsoft, Starbucks and Overstock – a top 100 furniture and mattress retailer in the U.S.

Because Shopify handles the transaction, the Ottawa-based e-commerce platform exchanges the crypto currency into Canadian dollars and remits that to Mattress Mattress.

“Through Shopify, funds are deposited to our account the same way that credit card transactions are, but without the fees taken by credit card companies,” Buchfink said, adding, “The other bonus is there are no chargebacks because crypto transactions are permanent and cannot be changed or deleted.”

The company also hopes that providing customers with the flexibility to use cryptocurrencies will help them save on transaction costs associated with traditional banking methods such as credit cards or PayPal.

Mattress Mattress operates 17 retail mattress stores, including 15 in Alberta as well as one unit in each of Regina, Saskatchewan and Kelowna, British Columbia.