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FARFETCH Joins Gucci and Other Luxury Brands in Accepting Crypto Payments

Retail TouchPoints

Luxury platform FARFETCH will accept cryptocurrency payments for all purchases on the FARFETCH Marketplace, with plans to expand to FARFETCH Private Clients in the coming months and to all customers in the U.S., UK and Europe by late 2022.

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4 Ways Retailers Can Add Crypto Successfully

Retail TouchPoints

Many people in finance and retail considered 2021 the “year of the cryptocurrency.” While the NYC payroll department likely cannot do that, it signals the mayor’s intentions to encourage cryptocurrency adoption. These machines function the same as traditional ATMs, with the extra capability of purchasing and storing cryptocurrencies.

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Cryptocurrency Regulations In The United Kingdom – A Guide To Follow

365 Retail

In essence, Cryptocurrency isn’t really considered to be a legal tender model in the UK. As per CNBC, the UK administration has announced a plan to mint their own NFT recently in April, 2022. Critically, your company will have to comply with CFT/AML reporting and consumer protection obligations as well.

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As Gen Z Gains Spending Power, Luxury Brands Go Big with Digital  

Retail TouchPoints

As younger consumers gain greater spending power, once notoriously inaccessible brands are now expanding from exclusive boutiques into virtual worlds and experiences. During its July 26, 2022 earnings release, LVMH reported revenue of approximately $37.3 billion , which is a 28% increase compared to the same period in 2021.

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NFTs will Bridge the Gap Between the Real World and the Metaverse

Retail TouchPoints

Reintroducing NFTs for Retail Selling digital products to consumers is not new. Consumers buy digital services from Netflix. When a consumer rents a movie, it’s the same movie that any other consumer can rent. On the other hand, when a consumer purchases an NFT it is unique and only has one owner. In the U.S.,

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Ferragamo Partners With Farfetch as Part of Millennial/Gen Z Strategy

Retail TouchPoints

The partnership will allow Ferragamo to fortify the online components of its omnichannel strategy, including its presence on the Farfetch marketplace, while also leveraging the platform’s promotional opportunities to engage with millennial and Gen Z consumers via digital experiences.

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Where Payment Processing Systems Are Headed In 2020

RTP blog

However, payment technology is perhaps the best it’s ever been. And technology is one way to heighten security, both for FinTech companies and consumers. It’s predicted that by 2022, 1.37 Mobile Payments On The Rise Already, 29% of American consumers would be content to pay with their smartphones all the time.