Global POS is developing a payment system which will allow more than 25,000 outlets in France to accept Bitcoin and other Cryptocurrencies as means of payment. The system will be ready for use by early 2020.

The new payment system is jointly developed by Global POS, Easy2Play, and the EasyWallet. The announcement was made in the Paris Retail Week. Source: French news outlet, 20minutes.

The new Global POS payment system is developed in collaboration with Easy2Play and EasyWallet.

Stephane Djiane, CEO of Global POS shared that 30 major retail brands in France will have access to the new payment system and as early as Q1 2020 will start to accept Bitcoin in their stores. Some of these brands include-

Boulanger,

Foot Locker,

Decathlon,

Conforama,

Maison du Monde Intersport,

Cultura,

Norauto,

Sephora.

According to the Kantar TNS 2018 survey, nearly 6.7% of French people (four million individuals) own cryptocurrencies. The new payment solution will allow them to spend Bitcoin in more than 25,000 sales outlet in France.

Merchants will have an option to automatically convert payments received in Bitcoin into Euros. Conversion services will be provided by Deskoin and Savitar, who are currently applying for Digital Asset Service Provider accreditations under the PACTE Act.

As per the statement from Stephane Djiane, CEO of GlobalPOS, “This is a symbolic step in the evolution of payment in France. What we bring to 25,000 outlets is the ability to safely enter the world of economy 3.0”. He added, “With our partners, we want to simplify the adoption of cryptocurrencies as a real means of payment within the legal framework of France”.

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