European luxury store Printemps to accept crypto payments

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As an analyst with over two decades of experience in the retail industry, I have witnessed the evolution of payment methods from cash and checks to digital wallets and mobile payments. The announcement by Printemps, a venerable institution with a rich history, to accept cryptocurrency is a testament to the relentless march of technological progress.

159-year-old French luxury retailer, Printemps, has revealed its decision to accept cryptocurrency transactions as part of collaborations with Binance Pay and Lyzi. Consequently, Printemps becomes one of the pioneering department stores in Europe that accepts digital currency payments.

According to the recent announcement, customers now have the option to purchase high-end fashion and beauty items using their preferred cryptocurrency. This new possibility is made possible by Binance Pay, a prominent global blockchain platform and digital currency exchange, as well as Lyzi, a fintech company specializing in crypto payments, which connects brands directly with crypto users.

The report indicates that over 6.5 million French individuals who own cryptocurrency can now utilize their digital assets at Printemps stores nationwide. Binance has extended the option to its Binance Pay users, enabling them to make purchases using Bitcoin, Ethereum, and various other cryptocurrencies – including stablecoins such as EURI and USDC based on their preferred payment method.

Emmanuel Suissa, the Chief Partnership Officer at Printemps, expressed their satisfaction as they became the initial department store chain in France to provide this feature to both local and global customers. He further noted that by teaming up with Binance and Lyzi, they are elevating the shopping experience for their clients and tailoring their services to suit the requirements of today’s tech-savvy and interconnected shoppers, using cutting-edge Web3 solutions.

Spring’s adoption of cryptocurrency payments might signal the start of a significant shift in the European retail sector. This move could potentially spark a transformative wave in global payment systems as well, given that the acceptance of cryptocurrencies has dwindled in areas such as North America and Asia.

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2024-11-30 11:16