Paris, November 20, 2024 - Printemps, the renowned department stores, in collaboration with Binance, Binance Pay - the payments solution of Binance, the world’s leading blockchain ecosystem and cryptocurrency exchange -, and the crypto payment fintech Lyzi, that connects brands to crypto users, announce a major advancement in the French retail industry: Printemps customers can now seamlessly use digital assets to shop for premium fashion, beauty, and lifestyle products at any of the 20 Printemps stores across the country.
This strategic partnership enables the more than 6.5 million French cryptocurrency users to enjoy new payment options at Printemps stores nationwide. Binance users will be able to use Binance Pay to pay in Bitcoin, Ethereum, and other cryptocurrencies including stablecoins such as EURI and USDC, providing a new level of payment flexibility.
Emmanuel Suissa, Chief Partnership Officer of Printemps, said: “We are proud to be the first department store network in France to offer this option to our local and international customers. 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."
How It Works: A Simple, and Secure ProcessTo make a payment with cryptocurrency, customers can simply scan a QR code at checkout with their Binance app. They can then select their preferred cryptocurrency and confirm the transaction. The process completes within seconds, offering a user-friendly option for customers looking for a quick and easy crypto payment option.
Binance Pay technology, integrated through Lyzi’s platform, merges seamlessly with Printemps’ payment system. Cryptocurrency payments are converted to euros, protecting the retailer from volatility and ensuring a smooth checkout experience for customers.
Binance and Lyzi: key players in this transformationWith over 240 million users worldwide, Binance is the leading player in the crypto ecosystem. Thanks to Binance Pay, and Lyzi’s platform, which has already connected its solutions in over 100,000 points of sale, this functionality allows for fast, secure, and simple payments with no fees for merchants. Funds are settled in 24 to 48 hours, guaranteeing security and convenience for both customers and retailers.
David Princay, CEO of Binance France, commented: “As retail continues to evolve, we are proud to see our technology support such an iconic French brand as Printemps. This initiative demonstrates the synergy possible between traditional luxury retail and innovative financial solutions, offering an enriched shopping experience.”
Damien Patureaux, CEO of Lyzi said: “This partnership 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 to reinforce its position as a leader in retail innovation and the future of commerce.”
About Printemps:
Founded in 1865 by Jules et Augustine Jaluzot, the Printemps Group is one of the emblematic French retail leaders in the fashion, luxury, beauty and lifestyle sectors. Printemps brings together 3,300 employees driven by an exceptional commitment to the clients through an outstanding sense of service and a unique personality. Composed of four brands—Printemps, Citadium, Place des Tendances and Made In Design—the Printemps Group boasts 20 Printemps department stores in France, including four affiliates, one department store in Doha, nine Citadium stores and four Printemps e-commerce sites: e-commerce, printemps.com, citadium.com, Place des Tendances et Made In Design. In this way it has established itself as a key omnichannel player, selling products from more than 3,500 brands in France and internationally. With an exceptional artistic and architectural heritage, the Group has innovated continuously since its creation, recently taking on new challenges such producing exclusive contents and making successful inroads into the circular economy.
About Binance:
Binance is the world’s largest cryptocurrency exchange and blockchain ecosystem, serving over 230 million users globally. Offering a comprehensive portfolio of over 430 cryptocurrencies, including major assets like Bitcoin, Binance provides an unmatched range of products and services, including Binance Pay, its payment technology for simple and secure cryptocurrency payments. Binance is dedicated to building an inclusive crypto ecosystem that enhances financial freedom and accessibility for people around the world. To learn more, visit https://www.binance.com
About Lyzi:
Founded in 2022, Lyzi is a French fintech specialized in cryptocurrency payment acceptance. Its solution, already deployed in over 100,000 points of sale, connects POS and payment terminals on behalf of its crypto-hub connector.
