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Farfetch offers cryptocurrency payment option

FASHION

Farfetch has confirmed that it will offer cryptocurrency as a payment method on the Farfetch Marketplace for customers in 37 countries.

The company will initially accept six cryptocurrencies including Bitcoin, Ethereum and USD Coin. To make a payment, customers with a cryptocurrency wallet will just need to scan the QR code displayed on the screen at checkout.

Farfetch Platform Solutions will also offer cryptocurrency payment capabilities for luxury brand clients.

Edward Sabbagh, chief marketplace officer at Farfetch, said: “Innovation is at the core of our business and we are continually looking to implement new technologies that provide an enhanced shopping experience for our customers. We are excited to offer cryptocurrency as a payment option for customers shopping on the FARFETCH Marketplace. Customers are increasingly interested in new payment methods and cryptocurrency is growing in importance with luxury customers.”

Farfetch is also a signatory of the Crypto Climate Accord, a private sector-led initiative for the crypto community focused on decarbonising the cryptocurrency and blockchain industry.

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