Texan Mattress adds cryptocurrencies to payment method

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MAGNOLIA, Texas – Eight-store mattress retailer Texan Mattress has begun accepting cryptocurrency online and in its stores giving consumers another way to pay for purchases. The company plans to roll out the program to its other stores later this month.

Cryptocurrency is a type of digital currency that exists electronically. There are no coins or bills; instead, it uses an online ledger to secure transactions.

The retailer operates eight stores under the Texan Mattress, Mattress Experts and The Mattress Room. Founded in 2014, Texan Mattress and its affiliates offer same-day delivery on mattresses.

“We’re extremely excited to be using CoinPayments.net to roll out support for cryptocurrencies at our stores,” said Lawrence Heilers, founder of Texan Mattress, adding that consumers are becoming increasingly interested in the new payment method. “We make them aware of it by using decals posted on our door and at checkout on our website.”

The Texas Department of Banking announced last week that state-chartered banks can provide safekeeping services for virtual currencies. That, Heilers said, opened the door to the new payment method.

“The future is here now with our own state allowing banks chartered in Texas to start holding cryptocurrency,” he said, adding that other governments will start recognizing the method, too.

The company has partnered with CoinPayments as its payment processor. Heilers said the company offers full encryption to protect customer information.

During the purchase process, a consumer scans a QR code specific to the product she is buying. The transaction is made through a mobile device or computer using a consumer pin code. Heilers said at no time during the transaction does the RSA or cashier touch the consumer’s device.