Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
PayPal has launched a solution that allows American merchants to accept payments in more than 100 cryptocurrencies, with the option to convert them to fiat or the PYUSD stablecoin.
The team behind PayPal has introduced Pay with Crypto, a new service that enables U.S. businesses to receive payments from customers in BTC, ETH, USDT, XRP, BNB, SOL, USDC, and various other digital currencies.
This new payment service is compatible with well-known crypto wallets such as Phantom, MetaMask, and Exodus, as well as cryptocurrency exchanges like Coinbase, OKX, Binance, and Kraken. The solution accommodates over 100 distinct cryptocurrencies and facilitates the immediate conversion of received digital assets into fiat or PYUSD, PayPal’s stablecoin that was launched in 2023. The conversion fee is set at just 0.99%, which is considerably lower than typical international fees associated with credit and debit cards. For instance, Visa card fees begin at a minimum of 1.75% per transaction.
Related Posts
PayPal reports that businesses incur billions in losses each year due to international banking fees. Pay with Crypto seeks to address these expenses by offering merchants immediate access to funds and flexibility in currency settlement.
Alex Chriss, President and CEO of PayPal, highlighted that the new service also permits merchants to retain their earnings in PYUSD, accruing 4% annual interest when held in PayPal accounts. Chriss asserts that Pay with Crypto will empower businesses of all sizes to begin accepting cryptocurrencies and facilitate payments to freelancers and contractors using PYUSD.
Previously, PayPal launched PayPal World, an initiative that brings together the largest global payment systems and digital wallets to streamline international financial transfers.
Сообщение PayPal Expands Crypto Payment Acceptance in U.S. появились сначала на CoinsPaid Media.
