Youth fashion retailer Pacsun to accept bitcoin and other cryptocurrencies using 10-year-old blockchain payment provider BitPay, according to a Tuesday (October 5) Press release.
Given that cryptocurrency is a growing trend among the California retailer’s Gen Z customers, the addition of crypto payments made sense, the release said. PYMNTS has found that over 54% of current or former crypto owners are Gen Z.
“Gen Z audiences, our primary consumer, are very tech-savvy, and we put a lot of our effort into social media and ecommerce to align with their lifestyles and resonate with them on a more level. staff, ”said Pacsun Co-CEO. Michel relich in the output. “Seeing their growing desire for cryptocurrency, it was clear that we needed to adjust and offer BitPay as another payment option, in order to build their confidence in us as one of their go-to retailers who really listen. “
Pacsun will support 11 cryptos under BitPay, including bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Dogecoin, Litecoin, and five US dollar stablecoins, as well as various crypto wallets and exchanges including Coinbase, Exodus Wallet, Metamask, Blockchain Wallet, Electrum Wallet, Trust Wallet, Ledger Wallet, BRD Wallet, Gemini, Kraken and Binance, according to the release.
“With the doubling of digital sales since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers,” said Pacsun President. Brie Olson in the output. “It’s amazing to lead the way for the fashion and retail industry, being the first to offer cryptocurrency payments through BitPay, and we expect many more companies to follow suit. given the ease it brings to the payment process. “
The popularity of cryptocurrency is increasing at a peak. According to PYMNTS research, up to 18% of the population – 46 million consumers – are likely to make a purchase with cryptocurrency.
Read more: How Consumers Want to Use Crypto to Buy and Pay in 2021 and Beyond
PYMNTS found that two-thirds of cryptocurrency owners said there were not enough merchants who accepted crypto payments.