2021-03-04 23:02:08

Dallas Mavericks To Take Dogecoin For Payment

Digital currency payment provider BitPay has launched Dogecoin payments for retailers and individuals. The Dallas Mavericks will be the first to accept Dogecoin, a cryptocurrency with a market cap of $6 billion, with the help of BitPay, according to a Thursday (March 4) announcement.

Fans can now purchase tickets and merchandise through the web with Dogecoin, making the team’s merchandise more accessible to fans in all locations. The Dallas basketball team, an early adopter of digital currency, has been taking bitcoin as a form of payment for game tickets and merchandise for nearly two years. The team uses BitPay to handle every digital currency purchase, including those for tickets and merchandise, with tokens such as BTC, ETH, GUSD, BUSD, BCH, USDC, PAX and now DOGE.

BitPay lets companies take digital currency as a payment method without needing to purchase, hold or control tokens, according to the announcement. The ability to take digital currency grows a company’s sales opportunity in global markets where taking credit cards is not feasible, among other benefits, according to the announcement.

“The Dallas Mavericks are a long-time enthusiast of cryptocurrency, opening up new opportunities for the team to sell tickets and merchandise to its global MFFL [Mavs Fans for Life] fan base,” BitPay CEO Stephen Pair said in the announcement. “BitPay believes that with continued cryptocurrency adoption, the industry is reaching an inflection point that will forever change consumer confidence, trust and pave the way for blockchain payments to disrupt the way consumers and businesses receive and spend funds.”

Digital currency is edging into the mainstream. It was a topic of a previous PYMNTS interview with Sean Rolland, director of product for BitPay, who said that mass payouts — harnessing bitcoin now, and ultimately other cryptos — may be the tailwind that takes digital coins into the mainstream for day-to-day transactions.

Among the company’s offerings, BitPay handles payment processing. It lets individuals and companies purchase products and services through digital currencies. Rolland offered the example of a person who wants to pay their AT&T bill with digital currency and can do so through the company. BitPay takes digital currency on behalf of AT&T.

The Dallas Mavericks will take Dogecoin, which is a cryptocurrency with a market cap of $6 billion, with the help of BitPay, according to a Thursday (March 4) announcement.

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NEW PYMNTS DATA: HOLIDAY SHOPPING RETROSPECTIVE STUDY – FEBRUARY 2021

About The Study: The Holiday Shopping Retrospective Study: Merchant Insights For 2021 And Beyond, a PYMNTS and PayPal collaboration, examines consumers’ shopping practices and preferences during the 2020 holiday season and what these mean for merchants now and for holiday seasons to come. The report is based on a census-balanced survey of 2,070 U.S. consumers.

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