Skip to main content

PayPal now lets you checkout with cryptocurrency

PayPal has announced it is giving customers the chance to ‘checkout with crypto’ at its 29 million merchants for everyday purchases.

The service, which is currently only available to consumers in the US, will enable the payment of goods with popular cryptocurrencies such as Bitcoin, Ethereum and Litecoin when checking out.

“This is the first time you can seamlessly use cryptocurrencies in the same way as a credit card or a debit card inside your PayPal wallet,” PayPal chief executive Dan Schulman told Reuters.

The announcement comes after the payment provider said it would enable the buying, selling and holding of cryptocurrencies in users’ PayPal wallets in October last year.

“Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies.” Schulman said.

READ MORE: PayPal to acquire cryptocurrency start-up Curv suggesting shoppers could soon pay with digital currency

Usually PayPal charges a two per cent fee on top of the RRP when paying using fiat currency in the US however the payment provider has said it will not be the charging transaction fees when checking out with crypto.

Once the transaction is complete, the user receives a digital record of the sale as normal.

Confidence is growing in cryptocurrencies and the announcement follows Tesla’s lead of allowing the purchase of cars with Bitcoin last month.

PayPal hope that the rollout of their crypto services will ease the fears surrounding the use of crypto for merchants and consumers alike by settling the payments in fiat currency instead.

“We think it is a transitional point where cryptocurrencies move from being predominantly an asset class that you buy, hold and or sell to now becoming a legitimate funding source to make transactions in the real world at millions of merchants,” Schulman added.

Click here to sign up to Charged’s free daily email newsletter

The post PayPal now lets you checkout with cryptocurrency appeared first on Retail Gazette.



from Retail Gazette https://ift.tt/3sFF4An
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp lea
67 comments
Read more

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been  given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxiety
Post a Comment
Read more

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio
Post a Comment
Read more