PayPal launches cryptocurrency payment service, enabling U.S. merchants to accept over 100 digital currencies
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PayPal launches cryptocurrency payment service, enabling U.S. merchants to accept over 100 digital currencies
According to Fortune, PayPal has announced a new payment service for small and medium-sized U.S. merchants, enabling them to accept payments in over 100 cryptocurrencies, including Bitcoin and Ethereum. The service will be provided through PayPal's online payment processing platform, with a transaction fee of 0.99% in the first year, increasing to 1.5% starting the second year. During settlement, users can link their existing cryptocurrency wallets to the payment page. The system will convert the cryptocurrency into PayPal's stablecoin PYUSD via Binance or decentralized exchanges, then convert it into U.S. dollars for the merchant.
Navigating Web3 tides with focused insightsTechFlow news, July 28 — According to Fortune, PayPal announced a new payment service for small and medium-sized U.S. merchants, enabling them to accept payments in over 100 cryptocurrencies, including Bitcoin and Ethereum. The service will be offered through PayPal's online payment processing platform, with a transaction fee of 0.99% in the first year, increasing to 1.5% starting in the second year.
During the settlement process, users can connect their existing cryptocurrency wallets to the payment page. The system will convert the cryptocurrency into PayPal's stablecoin PYUSD via Binance or decentralized exchanges, then convert it into U.S. dollars paid to the merchant.
