Montpellier-based French company Global POS, and a plethora of partners will enable, by 2020, more than 25,000 points of sale in France to accept cryptocurrencies as a means of payment within the legal framework defined by the progressive pro-blockchain PACTE law. The Easy2PlayPayment and the EasyWallet application will allow consumers in France to easily pay with cryptocurrencies in the near future.
On the occasion of Paris Retail Week, nearly thirty brands including Boulanger, Foot Locker, Decathlon, Conforama, World House, Intersport, Cultura, Norauto, Sephora will be able to accept cryptocurrencies as a mode of payment – as well as thousands of SMEs, restaurants and independents compatible with the French Nepting and Famoco PoS solutions.
“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 the 3.0 economy,” commented Stéphane Djiane, CEO and Founder of Global POS.
“With our partners, we want to simplify the adoption of cryptocurrencies as a real means of payment within the framework defined by the law. If initially, the service we offer will only allow the use of bitcoins, our goal is to open our solution to other cryptocurrencies in the future,” added Djiane.
According to a recent EasyWallet study, more than four million French people hold cryptocurrencies and this new solution aims to allow the mass adoption of cryptocurrencies.
“The acceptance of cryptocurrencies is a real challenge for retailers, we are aware of the expectations of the public and the scope of the message we send to a whole community. We are happy to be able to make this ecosystem more concrete for consumers and to enter the crypto-economy in a legal framework,” said Gregory Hervein co-founder of the brand Whiskers.
Seeing it’s a simple plug and play solution, the integration will be simple and will not change the habits of consumers and retailers.
Bring signs into a new paradigm
It is estimated that in France, according to the Kantar TNS 2018 survey, nearly 6.7% of French people have cryptocurrencies, which corresponds to around four million individuals. The solution developed by Global POS and its partners will allow them to spend their cryptocurrency in physical sales outlets in France.
Simplify the adoption of cryptocurrencies in a legal framework and accompanied by French actors
The solution developed by Global POS and its partners is part of the legal framework defined by France since the adoption of the Pact Act. In this perspective, the usual operation of the banners will not be impacted since the exchange platforms will be in charge of converting cryptocurrencies into euros.
To develop this project, Global POS relied on two leaders in the technology sector (ekino and Octo Technology ) and sector (Smartchain, Havas Blockchain, and Fidal). The trusted partners retained by Global POS for the conversion of crypto-assets into euros are Deskoin and Savitar who are currently applying for PSAN (Digital Asset Service Provider) accreditation under the Pacte Act.