Rising Crypto Adoption in France and Belgium
There's a growing interest among French and Belgian companies looking to extend their suite of payment options to include cryptocurrencies, with new entrants joining the movement.
Prominent French real estate management company, Apsys, has brokered a deal with a local cryptocurrency payment service provider. This partnership enables the acceptance of a variety of digital assets as payment for goods and services. Apsys manages multiple shopping centers across France and Poland, and has plans to gradually extend cryptocurrency payment options to all their locations.
At present, customers of several shopping centers located in France will have the option to pay using digital assets. These include L'Heure Tranquille in Tours, Les Rives de l'Orne in Caen, Muse in Metz, and Steel in Saint-Etienne.
The role of facilitating and processing cryptocurrency payments falls under the fintech firm Lyzi, which currently serves over 75,000 retail points and shops across various European Union countries.
Customers wishing to pay at restaurants or stores within the shopping centers can initially purchase digital gift cards using cryptocurrency. This can be conveniently done through the Lyzi mobile app.
Subsequently, these gift cards can be 'redeemed' at the point of sale within these shopping centers, essentially transforming cryptocurrency into fiat money.
This "crypto-to-fiat" payment structure can be applied not only at cash registers or POS terminals but also at self-service kiosks located within the shopping centers.
Customers are incentivised to adopt this mode of payment as they are rewarded with loyalty points or cashback for each cryptocurrency transaction.
On the other hand, merchants receive payment in euros directly into their bank accounts at the exchange rate at the time of transaction, thus eliminating concerns over the volatility of digital assets.
Innovating and reinventing the customer experiences at Apsys locations is at the heart of challenges that drive us daily. We are therefore particularly happy today to be a pioneer in payment solutions, thanks to our partnership with Lyzicommented Manuel Tessier, Apsys asset management director general
Illustration of the cryptocurrency payment process at points of sale. Source: lyzi.io
Expansion of Cryptocurrency Payments Continues
Apsys is no stranger to implementing cryptocurrency as a form of payment. About a year ago, a similar scheme involving cryptocurrency gift cards was introduced at the famous Beaugrenelle Paris shopping center. This location is well-known to Parisians for its luxury boutiques, high-end restaurants, and even a rooftop apiary and bird garden.
Their initial attraction to this innovative payment form was sparked by a "bounty". During a promotional event, customers received cryptocurrencies worth €500, setting the stage for viral marketing to take over.
Cryptocurrency payment advertisement in Beaugrenelle Paris shopping center. Source: lyzi.io
Customers of Beaugrenelle Paris appreciated the cryptocurrency gift cards, leading Apsys management to extend this "crypto expansion" to their other shopping centers.
Only Crypto for Exclusivity!
Crypto adoption is also permeating Belgium. Recently, all Belgian outlets of the French fast-food chain Black and White Burger started accepting digital assets for payment. The customers of this chain can choose from any of the popular cryptocurrencies among a selection of over 70 digital assets.
Interestingly, opting to pay with crypto provides customers with the exclusive opportunity to buy and taste burgers not accessible to those paying with traditional fiat currency!
Signature exclusive burgers at the Black and White Burger chain - only for crypto! Source: lavenir.net
In 2023, numerous Parisian pharmacy chains started embracing cryptocurrencies, while Paris's Burger King franchise introduced gadget charging stations, accepting digital assets as payment for their charging services.
