Farfetch will accept cryptocurrency as a payment method in the future.
The British fashion retailer announced on Thursday that six different cryptocurrencies will initially be accepted for the payment process, which is supported in 37 countries. These include Bitcoin, Ethereum and USD Coin. To complete a payment process with cryptocurrency, you only have to scan a displayed QR code.
The ability to pay with cryptocurrency is also offered to Farfetch Platform Solutions partner boutiques. In the course of the year, the group tested payment with cryptocurrencies. Selected Off-White stores and the Farfetch partner boutique Browns tested the process before it is now being implemented internationally on the Farfetch website.
“Farfetch is excited to offer cryptocurrencies as a payment option for customers,” said Edward Sabbagh, the company’s Chief Marketplace Officer, noting that “luxury consumers are increasingly interested in new payment methods.”
“Innovation is at the heart of our business and we are constantly looking for new technologies that offer our customers a better shopping experience,” says Sabbagh.