PayPal customers have the opportunity to pay with bitcoin for goods and services
Back in the fall of last year, the PayPal payment system announced the launch of a cryptocurrency exchange service. The financial company has now announced that its customers with cryptocurrency accounts will be able to use the coins to pay for goods and services.
As the Reuters agency clarifies, not only bitcoin, but also ether, litecoin, and also Bitcoin Cash can be used as a payment instrument. The system will automatically convert cryptocurrency into fiat money during the purchase.
While the possibility of using PayPal for crypto payments is available to the company's clients in the American jurisdiction. However, the developers of the service promise to make it publicly available to all stores that cooperate with the payment system within the next few months.
According to the President of PayPal Dan Shulman, with the help of such a service, a person will be able to use cryptocurrency as a credit card or a regular card in any store.
Automatic conversion will be convenient for the store so that it can receive fiat money and not worry about the volatility of digital assets, the top manager emphasized. He also added that the company has no plans to charge processing fees.