PayPal has announced the launch of its new cryptocurrency checkout service ‘Checkout with Crypto.’
The feature enables consumers pay for select purchases at millions of online businesses with their cryptocurrency of choice.
Over the next few months the company plans to expand to even more businesses.
Last year the online payments provider enabled customers to buy, hold, and sell four types of cryptocurrency in its PayPal wallet.
PayPal customers in the US who have cryptocurrency holdings will be able to choose to check out with cryptocurrencies, including Bitcoin, Litecoin, Ethereum or Bitcoin Cash, via PayPal at the online checkout.
The option automatically appears in the PayPal wallet at checkout for customers with sufficient cryptocurrency balance to cover a purchase.
"As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet," said Dan Schulman, president and CEO, PayPal. "Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies."
PayPal said that the service can be offered by an online store without any additional integrations or fees required by the business.
Latest News
-
Barclays takes £110m hit from Tricolor collapse and lifts car finance provision
-
JPMorgan AM launches short-term money management tech for hedge funds
-
Revolut secures MiCA licence
-
Major banks to buy stake in LSEG’s post-trade business
-
FCA sues HTX over illegal crypto promotion in the UK
-
NAB expands multi-cloud strategy with new Google partnership
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
Unleashing generative AI: A force multiplier for financial crime teams
This FStech webinar, sponsored by NICE Actimize sees industry experts examine the revolutionary impact of generative AI on financial crime operations, and provides actionable insights to enhance your compliance strategies.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories