Paypal Holdings, Inc. (NASDAQ: PYPL) reported the launch of Checkout with Crypto. Paypal customers with cryptocurrency holdings within the United States will be allowed to checkout with crypto seamless within Paypal at checkout. Customers utilize Checkout with Crypto check out safely and easily by converting cryptocurrency holdings to fiat currency at checkout. Certainty of value and no additional transaction fees required. The checkout with crypto will automatically appear in the Paypal wallet at the checkout for customers with sufficient cryptocurrency balance to cover the eligible purchase.
“As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet,” said Dan Schulman, president and CEO, PayPal. “Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies.”
Customers will be allowed to choose their cryptocurrency of choice, whether it be Bitcoin, Lightcoin, Ethereum or Bitcoin Cash depending on their holding with Paypal and balances available in each cryptocurrency. Only one type of cryptocurrency may be permitted for use on each purchase.
Paypal will charge no transaction fee to checkout with crypto, although a cryptocurrency conversion spread will be built into the conversion from crypto to USD.