Youth fashion retail chain Pacsun will adopt payments in cryptocurrencies
U.S. fashion and retail brand Pacific Sunwear, or PacSun, announced that the company is now accepting payment in crypto via Bitpay’s payment services. It will accept Bitcoin payments and ten altcoins, including Ether, Bitcoin Cash, Dogecoin, Wrapped Bitcoin, and Litecoin.
The American clothing brand, Pacific Sunwear of California, LLC, was founded in 1982. It has about 400 stores across all 50 states and Puerto Rico. Along with 11 cryptocurrencies, Pacsun is accepting payments in five stablecoins pegged to the U.S. Dollar.
The outlet has tied up with the crypto payment service provider, BitPay to process the crypto payments. This has allowed the outlet to accept a variety of cryptocurrencies from the very beginning. Shoppers can now see a button labeled “Pay with BitPay” while checking out their carts at PacSun. It will allow them to choose the cryptocurrency they want to play with and the crypto wallet they wish to use. The transaction is then completed by scanning a Q.R. code.
“With digital sales doubling since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers,” Brie Olson, the president of Pacsun, said in a statement. “It’s incredible to pave the way for the fashion and retail industry, being the first to offer cryptocurrency payments through Bitpay. We anticipate many other companies following suit considering the ease it brings to the checkout process.”
The announcement mentions that Pacsun believes it is “just as critical” to keep up with lifestyle trends as it is for them to keep up with fashion trends. The company noticed these trends when they launched their new line of products named Pacsun Kids alongside a collaboration with the ROBLOX metaverse. “Pacsun shares our goal to let everyone live life on crypto, making them a natural addition to our growing list of top brands adopting cryptocurrency,” Stephen Pair, the co-founder and CEO of Bitpay, remarked.
— BitYard (@BitYard_Global) October 7, 2021
Pacsun has witnessed increasing demand from the younger generation who wants to pay for goods and services using digital currencies. Pacsun co-CEO Michael Relich explained that Gen Z is the company’s primary consumer, and the demographic is “very tech-oriented.” Relich said that the firm dedicates a lot of time and effort to “align with their lifestyles and resonate with them on a more personal level.”
Relich concluded by saying, “Seeing their increasing desire towards cryptocurrency, it was clear that we needed to adjust and offer Bitpay as another payment option, to further instill their confidence in us as one of their go-to retailers that truly listens.”