Designer and maker of luxury watches from Switzerland TAG Heuer announced that it is now accepting online bitcoin and other cryptocurrencies as payment for its high-quality products.

To bring this new alternative payment functionality to its e-commerce customer base Techniques d’Avant Garde (TAG) went into partnership with BitPay. Businesses can accept bitcoins and other cryptocurrencies through BitPay without dealing with technical challenges.

The agreement will make 12 different cryptocurrencies available as payment options on global brands Tag Heuer's U.S. website.  Buyers can spend a dozen cryptocurrencies including Bitcoin (BTC), bitcoin cash (BCH), Ethereum (ETH), Litecoin (LTC), and Dogecoin (DOGE), as well as popular five stable coins like Tether and USD Coin. Customers within the U.S. will be able to purchase its watches and accessories online with multiple coins.

On Tag Heuer’s U.S. website a pop-up window now shows up informing visitors that the company already accepts cryptocurrency. During the checkout process for TAG, customers will click the “BitPay” button and then they will be redirected to select their preferred currency and wallet including exchanges, and the exchange rates are guaranteed for 15 minutes. There they must spend their digital coins. After completing the order customers will be returned to TAG’s website for confirmation from both BitPay and TAG once the transaction has been confirmed on-chain. According to TAG per transaction, customers can pay and use bitcoin and other cryptocurrencies for up to $10,000 with no minimum spending requirements.

CEO of TAG Fre´de´ric Arnault said the company was watching cryptocurrency developments very closely ever since Bitcoin first started trading. He further added, “As an avant-garde watchmaker with an innovative spirit, we knew TAG Heuer would adopt what promises to be a globally integrated technology in the near future despite the fluctuations — one that will deeply transform our industry and beyond.” The cheapest watch on the website costs 0.17 BTC, which converts to $5143.82 at the asset’s current market price at press time.

Tag Heuer revealed that an NFT collection is already in the works. In addition to the new crypto payment options, it has plans to enter the Web 3.0 industry in the near future. It has plans for the adoption of blockchain technology in Tag Heuer’s upcoming products and services.

Through Atlanta, Georgia-based cryptocurrency payment gateway BitPay companies like TAG can integrate cryptocurrencies like bitcoin as a means of payment on their platforms. With BitPay, companies can enter the area without technical burdens.  Stephen Pair, co-founder and CEO of Bitpay said “We are excited to see global brands such as TAG Heuer investing in the crypto space and seeking the support of Bitpay to adapt their digital platforms to the rapid transformation of e-commerce”.

Indrani bose

CBW - External Analyst

INDIA