PayPal Announces Collaboration With Bitcoin Payment Processors
Scott Allison, PayPal's corporate strategy director, in a blog post, announced the company's collaboration with the largest Bitcoin payment processors: BitPay, Coinbase and GoCoin. He explained that now online merchants will be able to accept Bitcoin through PayPal Payments Hub, a payment integration service that allows merchants to accept credit cards, money transfers through mobile operators and other payment methods.
Allison praised BitPay, Coinbase and GoCoin for their serious approach to ensuring the safety of users of their platforms. He also suggested which customer groups would like the new offer:
Notably, this ad from PayPal followed a recent decision by their subsidiary Braintree to collaborate with Coinbase.
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PayPal is available in 203 markets of the world and has 148 million active accounts, works with 26 world currencies and has $ 6.6 billion in annual revenue (as of the end of 2013). This e-commerce giant carries enormous potential for a Bitcoin economy.
According to Ellison, PayPal supports innovation, and is therefore ready at this early stage to support Bitcoin. The company will monitor the development of Bitcoin as a means of payment.
PayPal will earn referral payments from BitPay, Coinbase and GoCoin. So the new offer will not affect the prices or commissions of these services.
In his statement, Ellison also mentioned that PayPal oversees discussions on cryptocurrency regulation and intends to work only with those companies that provide certain consumer protection. And since PayPal must follow local laws in each country where it works, Bitcoin entrepreneurs will need to have licenses and procedures that prevent money laundering in accordance with local laws.
At the moment, PayPal intends to support only Bitcoin, since the rest of the cryptocurrencies just "lit up", but so far only Bitcoin has reached a significant scale.
Source: Coindesk: PayPal announces first partnerships in bitcoin space
Allison praised BitPay, Coinbase and GoCoin for their serious approach to ensuring the safety of users of their platforms. He also suggested which customer groups would like the new offer:
We believe that digital merchants will be delighted with the opportunity to work with these leading companies and sell ringtones, games and music for bitcoin.
Notably, this ad from PayPal followed a recent decision by their subsidiary Braintree to collaborate with Coinbase.
')
PayPal is available in 203 markets of the world and has 148 million active accounts, works with 26 world currencies and has $ 6.6 billion in annual revenue (as of the end of 2013). This e-commerce giant carries enormous potential for a Bitcoin economy.
According to Ellison, PayPal supports innovation, and is therefore ready at this early stage to support Bitcoin. The company will monitor the development of Bitcoin as a means of payment.
PayPal will earn referral payments from BitPay, Coinbase and GoCoin. So the new offer will not affect the prices or commissions of these services.
In his statement, Ellison also mentioned that PayPal oversees discussions on cryptocurrency regulation and intends to work only with those companies that provide certain consumer protection. And since PayPal must follow local laws in each country where it works, Bitcoin entrepreneurs will need to have licenses and procedures that prevent money laundering in accordance with local laws.
At the moment, PayPal intends to support only Bitcoin, since the rest of the cryptocurrencies just "lit up", but so far only Bitcoin has reached a significant scale.
Source: Coindesk: PayPal announces first partnerships in bitcoin space
Source: https://habr.com/ru/post/237905/
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