Merchants opting into the program will benefit from lower processing fees, with a 0.99% promo rate in the first year, later rising to 1.5%, still below typical credit card charges.
Users can connect their wallets to pay with crypto, which PayPal converts into its own stablecoin PYUSD before settling in dollars.
This system leverages exchanges like Coinbase and Uniswap for real-time conversion, supported by an existing zero-fee partnership with Coinbase for PYUSD.
According to CEO Alex Chriss, the update simplifies international sales by using blockchain rails to remove traditional banking barriers. For example, a store in Oklahoma can now accept crypto payments from a buyer in Guatemala, no third parties needed.
PayPal first launched crypto features in 2020 and later introduced its stablecoin PYUSD in 2023. After regulatory pushback, including an SEC probe that was eventually dropped, PYUSD has seen a 70% rise in market cap this year, reaching $850 million.
This latest move signals PayPal’s renewed commitment to blockchain integration, backed by stronger political support and a recovering crypto market.
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