French retailers will start supporting Bitcoin payments starting with early Q1 2020. Thirty French retailers – among Decathlon, Foot Locker, Intersport, and Sephora, will accept Bitcoin as payment, and BTC will be converted into euros when the sale is completed.
The announcement was made during Paris Retail Week which took place on September 24, when Cryptoglobe, the crypto news outlet in France made it public on their website.
Economy 3.0 Made Possible through Bitcoin
Thanks to a new partnership between point-of-sale technology provider Global POS, EasyWallet application and payments platform Easy2Play, costumers will be able to use their BTC to pay at over 25,000 major retail stores in France.
Other popular retailers alongside the ones mentioned above are Boulanger, World House, Cultura, Maisons du Monde, and Norauto.
The conversion from BTC to euro will be provided by Deskoin and Savitar, who are both applying for Digital Asset Service Provider accreditations under the PACTE Act
According to a statement from the CEO and founder of Global POS Stéphane Djiane, this is “an important symbolic step in the evolution of payment methods in France,” adding that the 25,000 outlets will helps us to “safely enter the world of Economy 3.0.”
Altcoins to Be Added in the Future on the Platform
Adoption of Bitcoin will be much bigger than the current 4 million French crypto owners, since consumers get the chance to use their cryptocurrency at retail stores.
Currently, Bitcoin is the only cryptocurrency that will be accepted at these retailers, but Dijane admitted they look forward to supporting other cryptocurrencies:
“With our partners, we want to simplify the adoption of cryptocurrencies as a real means of payment within the framework defined by the law. Though initially, the service we offer will allow only the use of bitcoin, our goal is to open our solution to other cryptocurrencies in the future.”
Global POS will make payment with cryptocurrency possible also because 6.7% of the French citizens are receptive and owners of crypto-assets, which they can start spending starting with the beginning of 2020.