A press release from Paris Retail Week says that 25,000 French retailers, including Sephora, Foot Locker, and sportswear giant Decathlon will begin support for bitcoin payments starting in 2020.
Major French Retailers to Accept Bitcoin
According to the release, payment platform Easy2Play and EasyWallet have partnered with point-of-sale technology provider Global POS to provide a bitcoin option for French retailers. Thirty major brands with more than 25,000 points of sale are expected to utilize the new system upon launch in Q1 2020.
The new system is expected to automatically convert client payments made in BTC into euros at the moment of sale, through conversion services provided by Deskoin and Savitar. Both companies are in the midst of applying for Digital Asset Service Provider accreditation under the French PACTE Act.
Stephane Djiane, CEO and Founder of Global POS, said,
This is an important symbolic step in the evolution of payment methods in France. However, more than a symbol, what we bring to 25,000 outlets is the ability to safely enter the world of the 3.0 economy.
Global POS is targeting a French populace that appears receptive to crypto-assets. According to the Kantar TNS 2018 survey, an estimated 6.7 percent of French citizens own some form of crypto-asset, which they will soon be able to spend at major retail outlets.
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