Young fashion brand Paxon to accept payments in cryptocurrencies


American fashion brand Pacific Sunware, or Paxon, has announced payments on 10 other Altcoins including Bitcoin and Ether, Bitcoin Cash, Wrapped Bitcoin, Dozcoin and Litcoin. The outlet enables payment processing with bitcoin, a popular crypto payment service provider, which allows you to accept various cryptocurrencies from the store.

When checking their shopping carts on PacSun, shoppers will now start to see a button labeled “Pay with BitPay” which allows them to pay for any cryptocurrency and use the crypto wallet. The transaction is completed by a process that involves scanning a QR code.

PacSun wants to be recognized as a Gen Z-centric store and claims to be the first “major brand of fashion and retail space” to allow payments in cryptocurrencies, with over 400 stores scattered across the US and Puerto Rico. According to a recent study by PYMNTS in the United States, 54 percent of the nation’s Gen Z population currently have or have invested in cryptocurrencies. Therefore, this action is in accordance with the company’s protocols.

“As digital sales double from last year, we understand the continued importance of creating an exceptional online shopping experience for our customers,” Foxconn Chairman Bree Olson said in the announcement. “Looking at their growing preference on cryptocurrency, it became clear that BitPay should be adjusted and offered as another payment option, to further sow our confidence as one of the truly asking retailers,” says Michael Relich, co-CEO at PacSun.

BitPay is one of the oldest crypto companies in its place in the United States. Both companies are already planning to launch an extensive marketing campaign using their social media access.

PacSun’s announcement comes a day after US-based theater chain AMC Theaters paid to accept Dogecoin.

Interested in cryptocurrency? We discuss crypto with WazirX CEO Nishal Shetty and Weekend Investing Founder Alok Jain. Orbital Apple Podcasts, Google Podcasts, Spotify, Amazon Music and your podcasts are available wherever you go.

Cryptocurrency is an unrestricted digital currency, not a legal tender and subject to market risks. The information contained in the article is not financial advice, business advice or any other advice or any kind of recommendation provided or approved by NDTV. NDTV will not be liable for any loss incurred on any investment based on any suggestion, forecast or any other information contained in the article.

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