More than 25,000 sales branch of 30 France-based, major retailing firms will be adding Bitcoin (BTC) to its list of payment options starting 2020. Big names such as Decathlon or Sephora also joins the trend.
The news was delivered by Cryptoglobe on September 24, during the ongoing Paris Retail Week.
The new crypto-based payment solution was officially authorized for introduction thanks to the collaboration among Global POS – Australian Surveying Equipment and accessories manufacturer – and EasyWallet – a mobile crypto wallet application, along with payment company Easy2Play.
Although Bitcoin will be facilitating the transactions, funds will be converted back into fiat money in an automated fashion.
Deskoin and Savitar are the company involved in this project that will be in charge of the crypto-to-fiat converting process. Both of the firm are at the moment submitting documents to acquire Digital Asset Service Provider accreditations under France’s PACTE Act.
Decathlon and Sephora are not the only big names signed up for the launch, others include Boulanger, Foot Locker, World House, Intersport, Cultura, Maisons du Monde and Norauto.
“This is an important symbolic step in the evolution of payment methods in France. However, more than a symbol, what we bring to 25,000 outlets is the ability to safely enter the world of Economy 3.0.” Stéphane Djiane, CEO and founder of Global POS, shared her remarks regarding the announcement.