Paris, November 20, 2024 — Printemps, the iconic 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 initiative taps into 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.
“We are proud to be the first department store network in France to offer this option to our local and international customers,” said Emmanuel Suissa, Chief Partnership Officer of Printemps. “By partnering with Binance and Lyzi, we are enhancing our customers’ shopping experience and adapting our services to the needs of today’s modern and connected consumers with the latest Web3 solutions.”
Seamless Integration with Existing Systems
The payment process is designed to be simple and secure. Customers scan a QR code at checkout using the Binance app, select their preferred cryptocurrency, and confirm the transaction. Payments are processed in seconds, offering a streamlined experience.
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.
Leaders in Cryptocurrency Solutions
Binance, with its 240 million global users, and Lyzi, a fintech that has integrated crypto payments into over 100,000 points of sale, bring significant expertise to the partnership. The move aligns with retail trends toward digital transformation and increased consumer flexibility.
“As retail continues to evolve, we are proud to see our technology support such an iconic French brand as Printemps,” said David Princay, CEO of Binance France. “This initiative demonstrates the synergy between traditional luxury retail and innovative financial solutions, offering an enriched shopping experience.”
Lyzi’s CEO, Damien Patureaux, highlighted the strategic importance of the partnership. “This collaboration allows Printemps to offer a cutting-edge payment solution that aligns with the evolving needs of today’s digital consumers. We are proud to support Printemps in enhancing the shopping experience and reinforcing its position as a leader in retail innovation.”
Expanding Horizons for French Retail
Founded in 1865, Printemps has long been a leader in French retail, blending tradition with modern innovation. The group operates 20 stores across France, along with an international presence and a robust online platform. This new cryptocurrency payment option positions Printemps at the forefront of retail innovation, catering to a tech-savvy and global audience.