Reeds Jewelers to begin accepting bitcoins for payment

Leading jewellery retailer Reed Jewelers plans to begin accepting payment through the digital currency bitcoin, reports suggest. For this, it intends to partner with Bitcoin platform Coinbase.

It will employ the bitcoin payment mechanism for all its retail brick and mortar stores and its online platform, Reeds.com. An information centre on its website has been created to address customer queries on the usage of bitcoins.

From its product portfolio, the retailer is including jewellery, gold ingots and diamonds with Gemological Institute of America grading reports, which can be bought with bitcoins, reports say. As bitcoins are virtual currency, the retailer has tablets at its stores, to facilitate the payment process, reports add.