The youth clothing retailer, Pacsun, revealed in a press release that it would begin accepting Bitcoin and some other cryptocurrencies using the payment provider Bitpay.
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Brie Olson, the President of Pacsun, said that digital sales have doubled in the last year and that they would like to pave the way for the fashion industry and be the first to offer this alternative payment method.
"With digital sales doubling since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers," said Olson."It's incredible to pave the way for the fashion and retail industry, being the first to offer cryptocurrency payments through BitPay, and we anticipate many other companies following suit considering the ease it brings to the checkout process."
The co-CEO of Pacsun, Michael Relich, said that the shop's core audience being the tech-oriented Gen Z, it's important to meet their increasing interest in cryptocurrency.
"The Gen Z audience, our primary consumer, is very tech-oriented, and we dedicate a lot of our efforts towards social media and ecommerce to align with their lifestyles and resonate with them on a more personal level," said Relich. "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."
With Bitpay, Pacsun will be able to accept a wide variety of cryptocurrencies outside of just Bitcoin, including Bitcoin Cash, Ethereum, Dogecoin, Litecoin and a number of stablecoins. With Bitpay, crypto payments at Pacsun will also be compatible with most leading wallets like Exodus, Metamask, Electrum, Ledger and popular exchange accounts.