Lord & Taylor is the latest retailer to allow Bitcoin as a form of payment for its products.
Bitcoin users can download an app on their phones called Pounce and shop at the department store using their virtual wallet. The software uses phones which scan images in print advertisements, allowing them to buy Lord & Taylor items.
Director of business development at ETF.com Ugo Egbunike said that using Bitcoin to shop at Lord & Taylor will bring more legitimacy to the currency. He added that the move boosts the Bitcoin economy.
Lord & Taylor is owned by parent company Hudson’s Bay (HBC).
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