Ralph Lauren, the iconic American fashion brand, has partnered with BitPay, a leading bitcoin payments service provider, to enable customers to make purchases using cryptocurrency at its new Miami Design District store. This marks a significant step forward for bitcoin adoption in the fashion industry.
Introducing our new #RLMiami store, the first Ralph Lauren store to accept cryptocurrency as a form of payment.
— Ralph Lauren (@RalphLauren) April 4, 2023
The Growing Popularity of Bitcoin in Miami
Miami is one of the top U.S. cities for bitcoin enthusiasts and has been at the forefront of bitcoin adoption. The city has hosted the Bitcoin 2021 conference and will also host the Bitcoin 2023 conference. In addition, Ibex Mercado, a bitcoin payments processing company, has onboarded 85 merchants in Miami following a merchant trial conducted at the Bitcoin 2022 conference. The increasing adoption of bitcoin in Miami has made it a hub for cryptocurrency enthusiasts and businesses alike.
The Simple Checkout Process for Bitcoin Payments
At Ralph Lauren’s Miami store, customers can now pay for their purchases using bitcoin. The checkout process is simple and secure, with BitPay providing a user-friendly interface for customers to make payments. The option to use bitcoin provides customers with an additional payment method for the brand’s distinctive styles.
Refunds Provided in Cryptocurrency
In addition to accepting crypto payments, Ralph Lauren will also provide refunds in the same cryptocurrency used for the purchase. This provides added convenience for customers, as they will receive a refund in the same currency they used to make the original purchase. The total amount of the refund will be equal to the dollar value of the product being returned.
Ibex Mercado Onboards 85 Merchants in Miami
The partnership between Ralph Lauren and BitPay is just one example of the growing adoption of bitcoin among merchants in Miami. Ibex Mercado has onboarded 85 merchants in the city, demonstrating the increasing acceptance of cryptocurrency as a payment method.