Cryptocurrency has created immense hype for many industries all around the globe. Many tech brands and companies are openly embracing the concept of cryptocurrencies. Every day, new fads are emerging in the world of digital payments solely because of the world of crypto. It looks like a new digital race has been initiated in which more and more brands are taking part in it.
The first one to start this trend was McDonald’s, the fast-food giant that not only established its first-ever digital fast food store in Metaverse but also joined the crypto crowd by accepting payments in this digital currency.
However, only recently, another important brand has joined the trend and will introduce a new payment method. Gucci, the famous fashion brand and the popular choice of many celebrities and people all around the globe, will begin accepting payments in cryptocurrency. The new development will take effect at the end of this month, across all the Gucci stores. The initiative will only remain effective across the stores of North America, where the brand is currently operating.
Customers will pay directly from their crypto wallet through digital transaction methods. An email will be sent to their phones that will contain a QR code. They can scan that code and pay directly using their digital wallets. The usage of QR codes or NFC readers is quite common in terms of crypto payments. Bearing similarity to mobile credit card payments, the existing point of sale terminals are used for accepting crypto payments. These terminals can connect to a customer’s smartphone.
It is not uncommon in today’s era for great brands to test blockchain technologies along with NFTs and digital payments. However, Gucci is the first one to set a trend by setting itself as an early adopter of Web3.