PayPal is launching a new service called "Pay with Crypto" for U.S. merchants, enabling them to accept payments in over 100 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), XRP, Binance Coin (BNB), Solana, and PayPal's own stablecoin, PayPal USD (PYUSD).
This feature will allow merchants to accept crypto payments that are instantly converted into either stablecoins or fiat currency, providing seamless transactions with near-instant settlement.
A major benefit of PayPal's expansion into crypto payments is the significant reduction in cross-border transaction fees. PayPal is charging a flat transaction fee of just 0.99%, which is up to 90% lower than traditional international credit card fees, which often range between 1.5% and 3.5% or higher. This cost efficiency helps merchants save billions annually that are typically lost to complex banking systems and international payment processing.
By enabling U.S. merchants to accept crypto, PayPal connects them to a global market of more than 650 million crypto users. This expansion is designed to boost merchant revenue opportunities, increase profit margins, and attract more customers by adding crypto as a payment option.
Integration with popular cryptocurrency wallets such as Coinbase, Binance etc is supported, making it easy for consumers and merchants to transact using familiar wallets.
This move by PayPal aims to simplify international commerce, unlock global growth, and drive down costs, helping businesses scale more efficiently in a borderless digital economy.
Overall, PayPal's "Pay with Crypto" feature represents a major step towards mainstream adoption of digital assets in everyday business, optimizing cross-border payments with lower fees, faster settlements, and broader payment options for U.S. merchants.
It's me, @justmythoughts, an ordinary Hive user looking to make the most of the platform. I will appreciate your support. Follow me for more. Thanks, Gracias :)