successful pioneer of e-commerce for high-end mechanical and connected watches as early as 2015, Swiss luxury watchmaker TAG Heuer takes yet another significant step on its digital transformation journey, introducing a new and forward-thinking payment feature on their US website, cryptocurrency.
As of now, TAG Heuer customers in the United States can purchase from the brand’s assortment of iconic timepieces and accessories using cryptocurrencies, with no minimum spend and up to $10,000 per transaction. With the support of BitPay which specializes in building custom blockchain payment technology for businesses, TAG Heuer now accepts a total of 12 cryptocurrencies at checkout, including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB) and more, as well as 5 USD-pegged stable coins.
With an increasing number of customers using or earning digital currencies regularly, TAG Heuer intends to be a key player in the imminent transformation of the e-commerce and retail spaces. This project marks a first step within a wider and long-term strategy for Web3, which will allow TAG Heuer to come alive in bold new ways via blockchain technology, NFTs and more.
“We have been following cryptocurrency developments very closely ever since Bitcoin first started trading. 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.” explains Frédéric Arnault, CEO of TAG Heuer.
“As a luxury brand we had to ensure that our entrance into Web3 would meet our standards of excellence and thanks to our nimble teams in-house and with the support of BitPay we are able to dive into this new financial world in the best way possible. This new crypto payment feature is just the beginning of many exciting projects for TAG Heuer in the Web3 universes.”
“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. We look forward to seeing the positive results of this new payment feature both for TAG Heuer customers and the brand and we will continue to support and help implement their vision as the technology and demand evolves,” stated Stephen Pair, Co-Founder and CEO of BitPay.
The integration of this pilot project into the TAG Heuer website offers a seamless experience to US customers wishing to complete their purchase using their crypto wallet. When prompted in the online checkout process, they simply select “BitPay” among the available payment options. They will then be redirected to select their preferred crypto wallet or exchange, and cryptocurrency before they proceed with the payment. Exchange rates at the time of the transaction are guaranteed for 15 minutes.
When the payment is completed, customers will be redirected back to www.tagheuer.com and will receive an order confirmation email from TAG Heuer, as well as a transaction confirmation from Bit Pay, once the blockchain has officially confirmed the payment.
TAG Heuer’s provider BitPay currently supports 12 cryptocurrencies in the US including Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC) and 5 USD-pegged stable coins (BUSD, DAI, GUSD, USDC, and USDP).
And more than 100 different crypto wallets and exchanges are currently supported, including BitPay, Coinbase, Exodus Wallet, Ledger Wallet, Trust Wallet, Electrum Wallet, Blockchain Wallet, Metamask, Crypto.com, Gemini Wallet, Kraken, Binance, BRD Wallet and more. The list of accepted currencies and wallets is subject to change by BitPay.
Exchange rates for all supported coins can be found by visiting https://bitpay.com/exchange-rates/. The cryptocurrency payment feature is only available online at www.tagheuer.com in the US for the moment.