PayPal Now Allows Merchants to Accept Bitcoin Payments

Merchants registered with the online transaction processing platform PayPal can now accept bitcoin as a form of payment. PayPal, which is being split off from the popular e-commerce company eBay, said in a filing with the Securities and Exchange Commission that merchants may integrate with Braintree to accept newer forms of payment, including Venmo, digital currencies, and other “payment solutions.”

Regarding the break-off from eBay at the end of 2015, the filing said,

As independent companies, we expect eBay and PayPal will be sharper and stronger, and more focused and competitive as leading, standalone companies in their respective markets. eBay and PayPal will also benefit from additional flexibility and agility to pursue new market and partnership opportunities.

The company announced in September that it would partner with e-payment processing system Braintree in order to accept bitcoin. PayPal also announced that it would partner with leading bitcoin marketplaces Coinbase, BitPay, and GoCoin.

PayPal senior director of corporate strategy Scott Ellison said,

PayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers… That’s why we’re proceeding gradually, supporting Bitcoin in some ways today and holding off on other ways until we see how things develop.

 

Read more here – “PayPal Allows Merchants to Accept Bitcoin Payments,” (Jerin Mathew, International Business Times UK)

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