Tags: paypal | digital | curency

PayPal: Digital Currency Partners Let Merchants Accept Bitcoin

Image: PayPal: Digital Currency Partners Let Merchants Accept Bitcoin
PayPal, Bitcoin. (Eric Piermont/AFP/Getty Images; Stephane De Sakutin/AFP/Getty Images)

By    |   Wednesday, 24 Sep 2014 03:46 PM

PayPal is stepping cautiously into the realm of digital currency after partnering with Bitcoin processors BitPay, Coinbase, and GoCoin to allow merchants to accept cryptocurrency for digital purchases.

Scott Ellison, PayPal’s director of corporate strategy, called the agreement “a test” of Bitcoin integration, according to Forbes. The company isn’t using the digital currency on its own platform, but will allow its partners to handle Bitcoin processing for PayPal merchants such as online gaming companies.

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During the past years, companies including Overstock.com, Dell Inc., Dish Network Corp., and Expedia Inc. have agreed to accept Bitcoin payments.

Ellison wrote in a blog post that the company hopes to do more with Bitcoin as the system evolves.

PayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers. Our approach to Bitcoin is no different. 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,” he wrote.

The news spurred mixed reactions on Twitter.







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PayPal is stepping cautiously into the realm of digital currency after partnering with Bitcoin processors BitPay, Coinbase, and GoCoin to allow merchants to accept cryptocurrency for digital purchases.
paypal, digital, curency
289
2014-46-24
Wednesday, 24 Sep 2014 03:46 PM
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