PayPal Expands Crypto Payment Options for U.S. Merchants to Reduce Fees
PayPal is launching a service allowing U.S. merchants to accept over 100 cryptocurrencies, aimed at reducing cross-border fees. Key points include:
- The feature, called Pay with Crypto, will be available soon.
- Shoppers can use crypto wallets like MetaMask and Coinbase at checkout.
- Accepted digital assets include bitcoin, ether, XRP, and stablecoins such as USDC and USDT.
- Merchants receive payments in U.S. dollars with near-instant settlement.
- A service fee of 0.99% will be charged, significantly lower than international credit card processing fees.
- The initiative supports PayPal's broader strategy in digital assets, including its own stablecoin PYUSD.
- Merchants can earn yield on PYUSD balances held within PayPal accounts.
This move positions blockchain technology as a cost-effective alternative for cross-border transactions.