Gen Z fashion retailer Pacsun now accepts crypto

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Youth fashion retailer Pacsun will accept bitcoin and other cryptocurrencies using 10-year-old blockchain payment provider BitPay, according to a press release on Tuesday, October 5.

Given that cryptocurrency is a growing trend among Gen Z customers of California-based retailers, 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 e-commerce to align with their lifestyles and resonate with them on a more personal level. Pacsun co-CEO Michael Relich said in The Release. 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 digital sales having doubled since last year, we understand the continued importance of creating a great online shopping experience for our customers, Pacsun President Brie Olson said in the statement. It’s amazing to pave 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 considering 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 a 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 accepting crypto payments.

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NEW PYMNTS DATA: TODAY’S SELF-SERVICE PURCHASING JOURNEY – SEPTEMBER 2021

By the way: 80% of consumers want to use non-traditional payment options like self-service, but only 35% were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a collaboration between PYMNTS and Toshiba, analyzes over 2,500 responses to find out how merchants can address uptime and perception issues to meet the demand for open kiosks -service.

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