Starting from the first quarter of 2020, a significant development in the retail industry will take place as more than 30 well-known retailers, including Sephora, will be able to enjoy a new feature within their point of sale software. This software upgrade will provide a new, mobile-friendly experience for both retailers and customers.
French provider Global POS has developed the East2PlayPayment point of sale software, which is currently being used by popular brands such as Foot Locker, Sephora, Decathlon, and Maisons du Monde. However, this software is not stagnant and is constantly evolving. In the beginning of next year, an update will be integrated, allowing retailers to accept payments in bitcoins. This new feature could potentially be available in over 25,000 point of sale locations.
For customers, the process of making bitcoin payments will be easy and convenient. They can use the EasyWallet application, which will generate a QR code that can be scanned at the cashier. This code will then initiate the payment process using the loaded bitcoins. On the retailer’s side, they will have an instant conversion system that enables them to receive transfers in euros, not cryptocurrency. This ensures a smooth and efficient payment process for both parties.
The ultimate decision to integrate bitcoin payments lies with the retailers. Stéphane Djiane, CEO and founder of Global POS, stated during the Paris Retail Week that they offer their retail clients a technological solution, leaving it up to the retailers to decide if they want to embark on the Bitcoin adventure.
Interestingly, it seems that offline companies are already embracing this solution. A 2018 Kantar TNS study revealed that 6.7% of French people own cryptocurrencies, showing a demand for alternative payment methods. Retailers see this update as an opportunity to cater to their international customer base, which appreciates mobile payments and the absence of exchange fees.
It should be noted that online marketplace Fancy.com is already accepting bitcoin payments through the Bitpay service, allowing customers to purchase luxury items from brands like Balmain, Gucci, and Balenciaga using this cryptocurrency.
In conclusion, the integration of bitcoin payments into the East2PlayPayment point of sale software is an exciting development in the retail industry. Retailers now have the option to join the Bitcoin revolution, offering a smoother transaction experience to their customers. Whether or not the adoption of this feature will be widespread remains to be seen, but it is undoubtedly a step towards a more innovative and technology-driven retail landscape.
Useful links:
1. [East2PlayPayment point of sale software](https://www.global-pos.com/en/solution/powerful-and-expanding-point-sales-software/)
2. [Bitpay](https://bitpay.com/)
