Paypal Holdings, Inc. Announces the Launch of Checkout with Crypto
March 30, 2021 at 06:00 am EDT
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PayPal Holdings, Inc. announced the launch of Checkout with Crypto, a new feature which significantly expands the utility of cryptocurrency. Available at millions of global online businesses and continuing to expand over the coming months, PayPal customers with cryptocurrency holdings in the U.S. will be able to choose to check out with crypto seamlessly within PayPal at checkout. 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. With Checkout with Crypto, cryptocurrency is another way for customers to pay and businesses to get paid, adding enhanced utility for cryptocurrency holders. Using Checkout with Crypto: 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. Appearing alongside other payment methods in the PayPal wallet like a bank account, balance or credit card/debit card, the Checkout with Crypto payment flow remains similar and familiar to other ways of checking out with PayPal: At checkout, if a customer has sufficient balance of cryptocurrency to cover an eligible purchase, crypto will automatically display as a payment method for that purchas; 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.
PayPal Holdings, Inc. is one of the main global providers of online payment services. The company enables individuals and professionals to purchase and to sell goods and services, as well as make transfers and withdrawals. Paypal Holdings operates a technology platform equipped with solutions (Paypal, PayPal Credit, Venmo and Braintree brands) designed to facilitate safeguarded payments via merchant websites, mobile payment devices, and through shops. Net sales break down by source of revenue as follows:
- revenues from transactions (90.2%);
- revenues from value-added services (9.8%).
At the end of 2023, PayPal Holdings, Inc. has 426 million active accounts.
The United States accounts for 58% of net sales.