By Mark Hunter
2 days agoMon Dec 02 2024 09:01:48
Reading Time: 2 minutes
- Printemps has adopted cryptocurrency payments in partnership with Binance Pay and French fintech Lyzi
- The system allows customers to use Bitcoin, Ethereum, and stablecoins like USDC and EURI in all 20 stores across France
- The move aims to enhance the shopping experience for over 6.5 million cryptocurrency users in the country
French department store Printemps has become the first in Europe to accept cryptocurrency payments thanks to a tie-in with Binance . This initiative, which also involved French fintech form Lyzi, will see shoppers able to buy their Christmas presents, and much more, through Binance Pay. Printemps hopes to attract crypto-holding shoppers off their laptops and into the store, with some 6.5 million holding crypto in the country.
Seamless and Secure Transactions
Printemps announced that Binance Pay users are now able to pay for goods across its 20 stores using the mobile platform. The strategic partnership enables customers to use digital assets like Bitcoin, Ethereum, and stablecoins such as EURI and USDC for their purchases in-store, marking a significant advancement in the French retail sector.
The payment process is designed for simplicity and security. Customers can scan a QR code at checkout using their Binance app, select their preferred cryptocurrency, and confirm the transaction, completing the process within seconds. Through Lyzi’s platform, Binance Pay technology integrates seamlessly with Printemps’ payment system, converting cryptocurrency payments to euros to protect the retailer from market volatility and ensure a smooth checkout experience.
In a press release , Emmanuel Suissa, Chief Partnership Officer of Printemps, expressed pride in this achievement:
We are proud to be the first department store network in France to offer this option to our local and international customers. By partnering with Binance and Lyzi, we are enhancing our customers’ shopping experience and adapting our services to the needs of today’s modern and connected consumers with the latest Web3 solutions.
Award-winning Linkup
This innovative approach has garnered industry acclaim, earning Printemps and Lyzi the Bronze Laureate Award in the Innovative Collaboration category at the 11ᵉ Nuit du Commerce Connecté organized by Républik Retail. This recognition underscores Printemps’ commitment to pushing the boundaries of innovation to transform the customer experience.
David Princay, CEO of Binance France, highlighted the significance of this development:
As retail continues to evolve, we are proud to see our technology support such an iconic French brand as Printemps. This initiative demonstrates the synergy possible between traditional luxury retail and innovative financial solutions, offering an enriched shopping experience.
This move by Printemps represents a key step in its commitment to offering more adapted and innovative services, meeting the expectations of a connected and forward-looking clientele.
