Portugal’s most decorated football club, S.L. Benfica, has announced a partnership with the UTRUST payment platform to become the first of its kind to accept cryptocurrency payments.
Benfica said they decided to accept cryptocurrency as a payment method to expand global audiences and upgrade its e-commerce strategy.
Supporters will now be able to purchase team memberships, tickets to matches and other official products using bitcoin and ether, in addition to UTRUST tokens (UTK) .
The team hopes to broaden its fanbase of 14 million by improving user experience and appealing to cryptocurrency holders.
“We recognize that many of our supporters are now digital users first so we want to be ahead of the curve when it comes to adopting novel technologies and giving our supporters the best online experience,” said S.L. Benfica CEO Domingos Soares de Oliveira.
Common issues with credit card payments, including chargebacks and fraudulent payments, will be reduced with the use of cryptocurrency payments. It will also allow for funds to be directly deposited into the S.L. Benfica bank account in fiat money on the same day of each purchase made in its online store.