Mark Weaden
Retail chain giants SCORE launches an innovative cryptocurrency payment system in its physical stores
The dutch retailers launched their first cryptocurrency payment option, trailing the system in a Mall in The Hague. The trail will include various cryptocurrencies, such as Bitcoin, Bitcoin cash, Dai, Ethereum, Litecoin and USD coin.
As we have seen throughout this year, many retailers are now targeting the younger generations, who are active in cryptocurrency. By launching these payment systems, it offers crypto-holders the opportunity to spend their holdings on everyday products and services, in this case purchasing clothing.
How can users pay at SCORE?
As the adoption of cryptocurrency continues to soar, the necessity for merchants and services to offer customers the option of paying with digital currencies becomes more apparent.
In some senses, it’s a case of acting first and providing a service that customers won’t find elsewhere. SCORE’s CEO Frank Huisman stated that “The result is the men’s jeans destination.” So we know what men are important and we know their needs. Building on this knowledge, we are today among the first retail players to benefit from the growing success of cryptocurrencies. This way we improve our services and invest in the future of payments. Cryptocurrency payment fits perfectly with our multi-channel strategy, you shop and pays the way you want.”
Crypto and blockchain technology, in general, is angling towards the retail model, with a plethora of payment systems now available or in development. Given that there is a recognised sector of the market associated with crypto, we’re now seeing these technologies being used to full effect. Payments are carried out more efficiently, providing transparency and independence for purchasers.
The adoption of cryptocurrency
This year We’ve covered the progress of blockchain technology and the industry, in general, as it’s grown and evolved. While the process of mainstream adoption is escalating, the fact that cryptocurrency is still very much in its infancy means that there is still a long way to go.
We’re not just seeing the option to pay in crypto, but also major banks and financial institutions endorsing digital currencies. The aggressive integration of crypto payment systems is on the horizon, as retails cater to the demands of customers.
Companies want to be seen to expand and innovate as technology develops. However, for retailers, the motivation to ensure customers can purchase using crypto is based on meeting the desires and requirements of the customer base.
