Globally acclaimed fashion brand amongst the youth namely Pacsun has revealed on 5th October, 2021 that it has started to accept several cryptocurrencies as payment against purchases. The integration of crypto has been done because there have been a great number of tech-oriented customers of Pacsun to whom the brand wants to provide more convenience.
Pacific Sunwear of California is the company behind one of the most popular clothing brand in America and elsewhere. The brand of Pacific Sunwear is globally famous by the name “Pacsun”, which was founded in the early 90s. Currently, the brand’s products are sold at 400 different locations alone throughout the US. It even has stores in Puerto Rico as well as global branches in several countries.
The brand has made an announcement in which it has told to become business partners with Bitpay.
Bitpay is a company which is involved in rendering crypto payment services. For instance, Bitpay acts as a medium of transaction between a service provider and the consumer. Bitpay’s services are utilized by both i.e. the consumers and service providers through its crypto payment dedicated app called “Bitpay App”.
To start crypto payment services, Pacsun has told that it will be accepting crypto payments in 11 virtual currencies. Within these acceptable cryptocurrencies, there are Bitcoin, WBTC, BCH, Ethereum, Litecoin and Dogecoin. While the rest five are prominent stablecoins which are usually pegged with the national currency i.e. American Dollars.
Pacsun’s President, Brie Olson, said that last year their digital sales were almost double. This then persuaded the brand to further improve its online shopping experience for its local as well as global customers. Olson also said that Pacsun is now the first fashion retail brand which is accepting virtual currency payments processed through Bitpay. He then desired that more companies from the retail industry should adopt virtual currency payment mechanisms. Doing so will be beneficial for the consumer as well as for the service provider. While consumers will enjoy the convenience of payment options on other hand service providers will be able to grasp greater customer base.
Pacsun highlighted that the youth should need to follow the lifestyle trends which is critical now a days. Such trends have always been noticed by Pacsun and products are designed on the basis of the trends. But due to the pandemic, consumers give priority to convenience i.e. they don’t want to go out unnecessarily. If they can pay for their clothing online and receive deliveries at their doorsteps, then nothing is more convenient than this. This is why Pacsun has partnered with Bitpay because a large portion of Pacsun’s customers are tech savvy. Many of them are owners of not one but multiple cryptocurrencies, especially the ones which are most prominent. So the decision of integrating crypto payment mechanism was logical and made complete sense, claimed Pacsun.