Printemps, a French department store chain, has become the first in Europe to accept cryptocurrency payments, thanks to a partnership with Binance, Binance Pay, and fintech firm Lyzi. The collaboration enables customers to pay for luxury fashion, beauty, and lifestyle products using digital currencies at all 20 Printemps stores in France.
This move caters to the growing adoption of digital currencies, providing over 6.5 million cryptocurrency users in France with an innovative payment option. Shoppers can now use popular cryptocurrencies like Bitcoin, Ethereum, and stablecoins such as EURI and USDC for their purchases. The payment process is designed to be simple and secure, with customers scanning a QR code at checkout using the Binance app, selecting their preferred cryptocurrency, and confirming the transaction.
Behind the scenes, Binance Pay and Lyzi’s platform convert cryptocurrency payments to euros in real-time, shielding Printemps from market volatility. Settlement is completed within 24 to 48 hours, ensuring smooth transactions for both customers and the retailer.