PayPal users can now pay for purchases with cryptocurrency
PayPal Holdings, Inc. has announced the launch of Checkout with Crypto, a new feature which significantly expands the utility of cryptocurrency, Report informs referring to the press release of the payment service.
Building on the ability to buy, hold and sell cryptocurrency with PayPal, customers using Checkout with Crypto can check out safely and easily, converting cryptocurrency holdings to fiat currency at checkout, with certainty of value and no additional transaction fees.
Checkout with Crypto will automatically appear in the PayPal wallet at checkout for customers with sufficient cryptocurrency balance to cover an eligible purchase.
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. Checkout with Crypto 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 will appear for a customer to select as a payment method if they have sufficient cryptocurrency of a single type held in their PayPal wallet to cover the purchase price.
Customers will be able select their cryptocurrency of choice – Bitcoin, Litecoin, Ethereum or Bitcoin Cash, depending on what they are holding with PayPal and the balances available in each cryptocurrency. Only one type of cryptocurrency can be used for each purchase.
Available at millions of global online businesses and continuing to expand over the coming months, PayPal customers with cryptocurrency holdings in the US can now choose to check out with crypto seamlessly within PayPal at checkout.