PacSun Is First Enterprise To Rely On BitPay’s Lightning-based Crypto Payments Platform
Milestone Date: April 6, 2022
BitPay, one of the largest cryptocurrency payments in the world, has integrated with Lightning Network to support Bitcoin payments. Pacific Sunwear, also commonly known as PacSun, is the first merchant to leverage BitPay to accept Lightning Network payments. With increasing requests for alternative payment options in the retail space, support for Lightning Network payments makes transactions with Bitcoin a breeze.
“BitPay’s integration with the Lightning Network offers customers more choice and merchants more ways to be paid leveraging blockchain technology,” said Tony Gallippi, BitPay’s co-founder. Prior to this Lightning Network integration, BitPay accepted BTC payments on-chain. Now, merchants and consumers can make BTC payments with popular payment apps like Cash App and Strike. This significantly improves the customer experience while providing a cost-effective method to make crypto payments.
According to Bitcoin.com, PacSun’s co-CEO Mike Relich said, “Lightning Network [support] provides our customers with instant payments and exceptionally low network fees, and creates more opportunity for all holders of Bitcoin to shop online at PacSun.”
It’s worth noting how a popular retailer like PacSun has listened to the wants and needs of its consumer base. Relich also stated the company saw an “increasing desire towards cryptocurrency” from its customers. Retail enterprises that innovate with blockchain to keep up with the demands of customers could have an edge over competitors that are too apprehensive about using Distributed Ledger Technology (DLT).
By Elizabeth Morrison
Published:April 20, 2023