Jeffs’ Brands Subsidiary, Fort Products, Embraces the Future of E-Commerce
Jeffs' Brands (Nasdaq: JFBR) has announced that its subsidiary, Fort Products, will integrate cryptocurrency payment options into its online platform. Through an agreement with a software development company, Fort plans to implement Bitcoin and other cryptocurrency payment capabilities during the first quarter of 2025. The integration aims to enhance customer convenience and expand Fort's global reach. A third-party payment processor will handle cryptocurrency transactions, converting them to fiat currency before transferring to Fort. This initiative aligns with Fort's strategy to modernize its e-commerce operations and cater to cryptocurrency-friendly customers.
Jeffs' Brands (Nasdaq: JFBR) ha annunciato che la sua filiale, Fort Products, integrerà opzioni di pagamento in criptovaluta nella sua piattaforma online. Attraverso un accordo con una società di sviluppo software, Fort prevede di implementare le capacità di pagamento in Bitcoin e altre criptovalute durante il primo trimestre del 2025. L'integrazione mira ad aumentare la comodità per i clienti ed espandere la portata globale di Fort. Un processore di pagamento di terze parti gestirà le transazioni in criptovaluta, convertendole in valuta fiat prima di trasferirle a Fort. Questa iniziativa è in linea con la strategia di Fort di modernizzare le sue operazioni di e-commerce e di soddisfare i clienti favorevoli alle criptovalute.
Jeffs' Brands (Nasdaq: JFBR) ha anunciado que su filial, Fort Products, integrará opciones de pago en criptomonedas en su plataforma en línea. A través de un acuerdo con una compañía de desarrollo de software, Fort planea implementar capacidades de pago en Bitcoin y otras criptomonedas durante el primer trimestre de 2025. La integración tiene como objetivo mejorar la comodidad del cliente y expandir el alcance global de Fort. Un procesador de pagos externo se encargará de las transacciones en criptomonedas, convirtiéndolas a moneda fiduciaria antes de transferirlas a Fort. Esta iniciativa se alinea con la estrategia de Fort para modernizar sus operaciones de comercio electrónico y atender a los clientes amigables con las criptomonedas.
제프스 브랜드 (Nasdaq: JFBR)가 자회사인 포트 프로덕트가 온라인 플랫폼에 암호화폐 결제 옵션을 통합한다고 발표했습니다. 소프트웨어 개발 회사와의 협약을 통해 포트는 2025년 첫 분기 동안 비트코인 및 기타 암호화폐 결제 기능을 구현할 계획입니다. 이 통합은 고객의 편리함을 높이고 포트의 글로벌 범위를 확장하는 것을 목표로 하고 있습니다. 제3자 결제 처리업체가 암호화폐 거래를 처리하며, 이를 법정 화폐로 전환한 후 포트에 전송합니다. 이 이니셔티브는 포트의 전자상거래 운영을 현대화하고 암호화폐 친화적인 고객을 맞추기 위한 전략에 부합합니다.
Jeffs' Brands (Nasdaq: JFBR) a annoncé que sa filiale, Fort Products, intégrera des options de paiement en cryptomonnaie sur sa plateforme en ligne. Grâce à un accord avec une société de développement de logiciels, Fort prévoit de mettre en œuvre des capacités de paiement en Bitcoin et d'autres cryptomonnaies au cours du premier trimestre 2025. Cette intégration vise à améliorer la commodité pour les clients et à élargir la portée mondiale de Fort. Un processeur de paiement tiers gérera les transactions en cryptomonnaie, les convertissant en monnaie fiduciaire avant de les transférer à Fort. Cette initiative s'inscrit dans la stratégie de Fort visant à moderniser ses opérations de commerce électronique et à répondre aux besoins des clients favorables aux cryptomonnaies.
Jeffs' Brands (Nasdaq: JFBR) hat angekündigt, dass ihre Tochtergesellschaft Fort Products Kryptowährungszahlungsoptionen in ihre Online-Plattform integrieren wird. Durch eine Vereinbarung mit einem Softwareentwicklungsunternehmen plant Fort, während des ersten Quartals 2025 Zahlungsfunktionen für Bitcoin und andere Kryptowährungen einzuführen. Die Integration zielt darauf ab, den Komfort für die Kunden zu erhöhen und die globale Reichweite von Fort zu erweitern. Ein Drittanbieter-Zahlungsanbieter wird die Kryptowährungstransaktionen abwickeln und diese vor der Überweisung an Fort in Fiat-Währung umwandeln. Diese Initiative steht im Einklang mit Forts Strategie zur Modernisierung seiner E-Commerce-Betriebsabläufe und zur Ansprache von kryptowährungsfreundlichen Kunden.
- Expansion of payment options potentially increasing customer base
- Strategic move into cryptocurrency market without direct crypto exposure
- Enhancement of global market accessibility
- None.
Insights
The integration of cryptocurrency payments via a third-party processor represents a low-risk approach to crypto adoption, as Fort will receive fiat currency rather than holding volatile digital assets. This strategic move could potentially increase Fort's market reach, particularly in regions with high crypto adoption rates or unstable local currencies. However, the Q1 2025 implementation timeline is relatively distant and the actual impact on sales may be minimal given that crypto payments typically represent a small percentage of e-commerce transactions.
The partnership with a software development company for payment integration suggests minimal technical overhead for Fort, though the success will largely depend on the reliability and user-friendliness of the chosen payment gateway. The decision to avoid direct cryptocurrency exposure while offering crypto payment options demonstrates a cautious yet forward-thinking approach to digital payment innovation.
Looks to Integrate Cryptocurrency, such as Bitcoin, as Payment Option
Tel Aviv, Israel, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Jeffs' Brands Ltd (“Jeffs’ Brands” or the “Company”) (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, announced today that its wholly owned subsidiary, Fort Products Ltd. (“Fort”), which also operates its own online platform, is embracing the future of e-Commerce. Fort has entered into an agreement with a leading software development company to integrate cryptocurrency payment options, including Bitcoin, into its online platform.
Fort Leads Innovation with Bitcoin Payments
As part of its commitment to providing a seamless and forward-thinking shopping experience, Fort expects to provide customers with the ability to pay for its industry-leading pest control solutions using Bitcoin and other major cryptocurrencies on its online platform during the first quarter of 2025. This move reflects Fort's strategy to stay at the forefront of e-commerce trends, catering to a growing segment of customers who prefer decentralized secured payment methods.
Strategic Partnership for Advanced Payment Solutions
Fort’s agreement with the software development company will introduce a robust and secure cryptocurrency payment gateway to its online store. The integration will allow customers worldwide to transact effortlessly, broadening Fort’s accessibility and appeal to tech-savvy and cryptocurrency-friendly audiences.
Jeffs' Brands Chief Executive Officer, Viki Hakmon said: "Integrating cryptocurrency payments represents an exciting milestone for Fort and Jeffs' Brands. We are committed to meeting the evolving needs of our customers and staying ahead of industry trends. By enabling Bitcoin and other crypto payment options, Fort enhances convenience for its customers and evolves in the modern e-commerce landscape."
Enhancing Global Reach
With cryptocurrency payments, Fort aims to expand its reach across international markets, where digital currencies are increasingly popular. The feature is expected to attract new customer segments and provide an alternative online payment solution that we believe aligns with global financial innovation.
Fort will not actually be receiving any cryptocurrencies. A third-party payment processor will receive the cryptocurrency payment from the customer and will transfer an equivalent amount to Fort in fiat currency.
About Jeffs’ Brands Ltd
Jeffs' Brands aims to transform the world of e-commerce by creating and acquiring products and turning them into market leaders, tapping into vast, unrealized growth potential. Through the Company’s management team’s insight into the Fulfillment by Amazon (FBA) business model, it aims to use both human capability and advanced technology to take products to the next level. For more information on Jeffs’ Brands Ltd visit https://jeffsbrands.com.
Forward-Looking Statements Disclaimer
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when discussing the integration of cryptocurrency payment options into Fort’s online platform; expansion of Fort’s reach across international markets and its ability to attract new customer segments; and the Company’s commitment to meeting the evolving needs of its customers and staying ahead of industry trends.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to adapt to significant future alterations in Amazon’s policies; our ability to sell our existing products and grow our brands and product offerings, including by acquiring new brands; our ability to meet our expectations regarding the revenue growth and the demand for e-commerce; the overall global economic environment; the impact of competition and new e-commerce technologies; general market, political and economic conditions in the countries in which we operate; projected capital expenditures and liquidity; the impact of possible changes in Amazon’s policies and terms of use; the impact of the conditions in Israel, including the recent attacks by Hamas, Iran, and other terrorist organizations; and the other risks and uncertainties described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (“SEC”), on April 1, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Investor Relations Contact:
Michal Efraty
Adi and Michal PR- IR
Investor Relations, Israel
michal@efraty.com
FAQ
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