Paypal have announced the launch of Checkout with Crypto, a new feature that will expand the utility of cryptocurrency. Available at millions of global online businesses and continuing to expand over the coming months, PayPal customers with cryptocurrency holdings in the U.S. will be able to choose to check out with crypto within PayPal at checkout.
Since the pandemic, Cryptocurrency has been once again gaining popularity. Companies like Paypal building on the ability to pay with Cryptocurrency are helping remove any previous boundaries and allow it to grow further.
Checkout with Crypto offers a business’s customers a way to checkout with cryptocurrency, without any additional integrations or fees required by the business. All transactions are settled in USD and converted to the applicable currency for the business at the standard PayPal conversion rates. The new service offers customers the ability to sell cryptocurrency through PayPal to then pay a business for select online purchases in one seamless checkout flow.
Checkout with Crypto continues PayPal’s commitment to enabling choice in the way customers pay, and how businesses get paid and is a natural extension of the broad portfolio of services offered to merchants to drive engagement with their customers.
“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. Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies.”
– Dan Schulman, president and CEO, PayPal