In the coming months, the payments giant PayPal will enable users to pay for purchases with Bitcoin, Bitcoin Cash, Ethereum and Litecoin at 29 million points of sale. Reuters reports, citing the company’s forthcoming statement.
Since March 30, the feature has been available to residents of the United States.
At the point of sale, users will be able to convert cryptocurrency into fiat.
“For the first time, customers will be able to seamlessly use the cryptocurrency stored in their PayPal wallet, just like a credit or debit card,” said Dan Schulman, CEO of the company, in a statement to the publication.
He added that PayPal would not charge a transaction fee for orders completed with cryptocurrency. For each purchase, a customer will be able to use only one type of coin.
In November 2020, PayPal launched the buying and selling of Bitcoin for users in the United States.
In a December survey by Mizuho, 65% of the company’s customers stated they were willing to pay with Bitcoin for goods and services.
In early March 2021, the payments giant confirmed plans to acquire the cryptocurrency custody infrastructure provider Curv.
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