Over 25,000 French sales points will adopt Bitcoin payments by 2020
NEWS
September 24  |  2 min read

Paris Retail Week: Major French Retailers Will Start Accepting Bitcoin Payments in 2020

The COIN360 Editorial Team

Over 25,000 sales points for 30 large French retailers will adopt a Bitcoin payments system by early 2020, as announced on Tuesday, Sept. 24, by a group of companies involved in the project on the sidelines of Paris Retail Week.

Among many others, such retail brands as Decathlon, Boulanger, Norauto, Sephora, Conforama, World House, Intersport, and Cultura have already signed on to the initiative, thus swelling the ranks of crypto-friendly retailers.

The to-be cryptocurrency payments system is now being developed by a tripartite partnership that involves point-of-sale technology provider Global POS, EasyWallet app, and payments platform Easy2Play. In order to alleviate possible transactional complications, the developers envisage the system of automated BTC-to-EUR conversion at the moment of sale.

According to Global POS founder Stephanie Djiane, at first, the service will allow for Bitcoin payments only. However, the solution will eventually open up to other cryptocurrencies as well.

"The acceptance of cryptocurrencies is a real challenge for retailers. We are aware of the public expectations and the scope of the message we send to the whole community. We are happy to be able to make this ecosystem more concrete for consumers and to enter the crypto-economy within a legal framework,” - Grégory Hervein, co-founder of the brand Mustaches, commented on the matter.