Emily Walker
Cryptocurrency is making its way into Europe’s high-end retail market. Reports indicate that Printemps, a well-known luxury brand chain, is set to start accepting cryptocurrency payments.
This luxury retailer has teamed up with Binance Pay and Lyzi to provide customers with the option to pay using popular cryptocurrencies. Binance Pay ensures a secure and contactless payment system globally, accommodating around 300 different cryptocurrencies.
Through this initiative, Printemps patrons at all its brands and more than 20 locations across France will benefit from the convenience and safety crypto payments offer. The company estimates that this integration will attract over 6.5 million crypto-friendly customers in France.
Growing Applications for Cryptocurrency
Printemps’ partnership with Binance Pay and Lyzi illustrates the expanding applications for cryptocurrencies. By incorporating these payment options at checkout, Printemps can now extend secure and versatile payment solutions to its extensive crypto customer base of over 6.5 million. Printemps operates 20 stores nationwide.
Analysts believe that Printemps’ decision could disrupt the luxury retail sector, making it the first European luxury retailer to embrace cryptocurrency payments, and highlighting the potential of blockchain technology in improving consumers’ shopping experiences.
A Collaborative Success of Binance Pay, Lyzi, and Printemps
The collaboration between Printemps, Binance Pay, and Lyzi is set to transform not only the shopping experience in luxury retail but also to elevate customer interactions, benefiting from the blockchain’s convenience and security.
This partnership has garnered industry recognition, with Printemps and Lyzi receiving the Bronze Laureate Award for Innovative Collaboration at the 11ᵉ Nuit du Commerce Connecté. This ceremony, hosted by Républik Retail, honors companies embracing new technologies and innovations, such as AI.
Printemps’ Ongoing Commitment to Innovation
The acknowledgment from Républik Retail highlights the company’s dedication to innovation that enriches the shopping experience. Emmanuel Suissa, the Chief Partnership Officer, expressed pride in being the first department store network in the nation to accept cryptocurrency from both local and international customers.
Suissa emphasized that through partnerships with Lyzi and Binance Pay, they aim to improve the shopping experience and engage customers through Web 3.0 solutions.
With Binance Pay, Printemps customers can now use Bitcoin, as well as various altcoins and stablecoins like USDC and Tether for their purchases. Lyzi provides a robust crypto payment solution that accommodates over 70 cryptocurrencies, including Bitcoin, Binance USD, and Ethereum.
Featured image from Blog Economie Numérique, chart from TradingView