Paypal has unveiled a new feature that allows merchants in the United States to accept payments in more than 100 cryptocurrencies, aimed at improving international transactions and increasing the use of its stablecoin.
The functionality, called remuneration with crypto, allows users to make payments using various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Ripple (XRP), Binance Coin (BNB), Solanna and USD Coin (USDC), among others.
In its press statement, the company indicated that the service will adapt to transactions from several wallets, such as Coinbase, Kraken and Metamask.
Payments made via this feature will be automatically converted into PayPal Stablecoin Pyusd or traditional fiduciary currency at the point of sale.
Traders will lead to transaction costs of 0.99% for these cryptographic payments, which Paypal claims is significantly lower than the process of processing standard credit cards.
This new offer is designed to simplify cross -border transactions, which Paypal stressed as being often expensive and complicated for small and medium -sized enterprises.
Currently, functionality is exclusively accessible to American merchants, excluding those located in New York.
Paypal’s president and chief executive officer Alex Chriss said: “Companies of all sizes are faced with incredible pressure during global growth, from the increase in costs to accept international payments to complex integrations. Today, we are deleting these obstacles and help all companies with all sizes to achieve their objectives.
“Imagine a buyer in Guatemala buying a special gift from a merchant at Oklahoma City. Using the Paypal open platform, the company can accept the crypto for payments, increase its beneficiary margins, pay lower transaction fees, approach instant access to the product and increase stored funds like Pyusd at 4% 5 when they are detained on Paypal.”
“Last week, we launched Paypal World, our global partnership bringing together five of the world’s largest digital portfolios on a single platform, fundamentally reinventing the way money moves around the world.
“These innovations do not simplify payments – they stimulate the growth of merchants, widen the choice of consumers and reduce costs. It is the future of inclusive and borders, and we are proud to direct it.”
“Paypal presents the payment function of cryptocurrencies for us merchants” was created and published by International electronic paymentsA brand belonging to GlobalData.
