Latest news with #PYUSD
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Business Standard
14 hours ago
- Business
- Business Standard
PayPal enables crypto payments for merchants via 'Pay with Crypto'; details
Global online payment services provider PayPal has further extended its support for cryptocurrencies with the launch of its new feature, 'Pay with Crypto.' This feature enables merchants to connect to a crypto market worth over $3 trillion by allowing instant crypto-to-stablecoin or fiat currency conversion, the company announced in a press release. "Pay with Crypto," PayPal said, will be available to US merchants in the coming weeks. The service supports transactions across more than 100 cryptocurrencies and popular wallets such as Coinbase and MetaMask. This solution aims to expand revenue opportunities for merchants and taps into a global user base of more than 650 million crypto users. With a transaction fee of just 0.99 per cent, Pay with Crypto reduces international payment processing costs by up to 90 per cent compared to traditional credit card payments. "Businesses of all sizes face incredible pressure when growing globally—from increased costs for accepting international payments to complex integrations. Today, we are removing these barriers and helping businesses of every size achieve their goals," said Alex Chriss, president and CEO of PayPal. "Imagine a shopper in Guatemala buying a special gift from a merchant in Oklahoma City. Using PayPal's open platform, the business can accept crypto payments, increase profit margins, pay lower transaction fees, gain near-instant access to proceeds, and grow funds stored as PYUSD at 4 per cent when held on PayPal," Chriss explained. According to the release, PayPal empowers U.S. merchants to accept crypto payments, improve operational efficiency, attract new customers, earn rewards for PYUSD held on the platform, and send faster, low-cost payments to freelancers and vendors using PYUSD. The company also recently announced an agreement with Fiserv to expand stablecoin adoption globally and enhance business efficiency. The "Pay with Crypto" feature, powered by PayPal, will cover 90 per cent of the global $3+ trillion crypto market cap, supporting payments with over 100 cryptocurrencies, including BTC, ETH, USDT, XRP, BNB, SOL, USDC, and more. It also allows integration with major wallets such as Coinbase, OKX, Binance, Kraken, Phantom, MetaMask, and Exodus, with additional wallets to be supported in the future. This announcement follows last week's unveiling of PayPal World, a global partnership uniting five of the world's largest digital wallets on a single platform. About PayPal PayPal is a global online payment system that enables individuals and businesses to send and receive money electronically. It offers a secure platform for online transactions, providing buyer protection and various payment options. PayPal connects users' bank accounts, credit cards, and balances, facilitating fast and secure online fund transfers. Operating in around 200 markets, PayPal allows users to send and receive money worldwide. The platform employs advanced encryption and security protocols to safeguard users' financial information and offers comprehensive tools for businesses to manage their online payments.
The Verge
a day ago
- Business
- The Verge
PayPal will soon let you 'Pay With Crypto.'
Posted Jul 28, 2025 at 6:57 PM UTC PayPal will soon let you 'Pay With Crypto.' It will let US-based merchants start offering the new payment method 'in the coming weeks,' allowing them to accept than 100 types of cryptocurrencies, including Bitcoin, Ethereum, and Tether. PayPal will automatically convert the crypto payments into fiat currency or its PYUSD stablecoin. The company says the option will help merchants avoid the transaction fees that they'd typically face when accepting international payments. PayPal to Roll Out 'Pay With Crypto' Feature for Merchants [ Follow topics and authors from this story to see more like this in your personalized homepage feed and to receive email updates. Emma Roth Posts from this author will be added to your daily email digest and your homepage feed. See All by Emma Roth Posts from this topic will be added to your daily email digest and your homepage feed. See All Crypto Posts from this topic will be added to your daily email digest and your homepage feed. See All News Posts from this topic will be added to your daily email digest and your homepage feed. See All Tech
Yahoo
a day ago
- Business
- Yahoo
PayPal opens doors for U.S. merchants to accept 100 new assets
PayPal opens doors for U.S. merchants to accept 100 new assets originally appeared on TheStreet. PayPal has added a new payment option to its offering to allow small and medium-sized U.S. merchants to accept a variety of cryptocurrencies, such as Bitcoin, Ethereum, Trump's memecoin (TRUMP), or Fartcoin for fun. The tool is available to all merchants using PayPal's online payments platform, the company confirmed on July 28. According to Fortune, as an incentive for adoption, PayPal will charge a promotional transaction fee of 0.99% for the first year, followed by a transaction fee of 1.5% across all products for subsequent years, the PayPal team stated. This amount will still be below the average credit card fees that U.S. merchants paid in 2024, which were 1.57%, according to the Nilson per Fortune, PayPal said that users will be able to connect and spend from their current crypto wallet to pay on the checkout page. Depending on the wallet, PayPal will swap the cryptocurrency, either via centralized exchanges like Coinbase or decentralized exchanges like Uniswap, then convert that to PayPal's stablecoin, PYUSD, which will then convert to U.S. dollars for the merchant. 'Imagine a shopper in Guatemala buying a special gift from a merchant in Oklahoma City,' Alex Chriss, president and CEO of PayPal, said in a statement to Fortune. 'Using PayPal's open platform, the business can accept crypto for payments.' The announcement is the latest from PayPal in its digital asset efforts, and it should be noted that PayPal was one of the first Fortune 500 companies to adopt cryptocurrency. PayPal launched its stablecoin, PYUSD, on August 7, 2023—becoming the first major U.S. fintech firm to do so. PayPal opens doors for U.S. merchants to accept 100 new assets first appeared on TheStreet on Jul 28, 2025 This story was originally reported by TheStreet on Jul 28, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
PayPal Expands Crypto Payments for U.S. Merchants to Cut Cross-Border Fees
Digital payments giant PayPal (PYPL) said it is rolling out a service that lets U.S. merchants accept over 100 cryptocurrencies in payment for purchases as it aims to cut cross-border fees. The feature, dubbed Pay with Crypto and available in the coming weeks, enables shoppers to use crypto wallets like MetaMask and Coinbase at checkout. Payments can be made with digital assets such as bitcoin (BTC), ether (ETH), XRP (XRP) and stablecoins like USDC and USDT, covering 90% of the total crypto market cap. The merchants receive U.S. dollars, settling the transaction almost instantaneously, a spokesperson said Monday. The company will charge a 0.99% service fee, some 90% less than international credit card processing, PayPal said. "Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations," President and CEO Alex Chriss said in a statement. "Imagine a shopper in Guatemala buying a special gift from a merchant in Oklahoma City," he cited as an example. "Using PayPal's open platform, the business can accept crypto for payments, increase their profit margins, pay lower transaction fees, get near instant access to proceeds, and grow funds stored as PYUSD at 4% when held on PayPal." The rollout extends PayPal's push into digital assets, which includes its U.S. dollar stablecoin (PYUSD) and recent partnerships to expand stablecoin use globally. Merchants can also earn yield on PYUSD balances held within PayPal accounts. Blockchain rails, especially stablecoins, are increasingly viewed as a cheaper and faster alternative for cross-border payments than traditional the banking in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
PayPal to allow businesses to accept more than 100 cryptocurrencies
PayPal said Monday it will allow businesses to accept payments in more than 100 types of cryptocurrencies, including bitcoin and ethereum. Called "Pay with Crypto," the new service will allow consumers to use many types of cryptocurrencies to complete their purchases, as well as to use wallets such as Coinbase and MetaMask, the company said in a statement. After shoppers pay in crypto, the payments will automatically convert to fiat or stablecoin. PayPal has its own stablecoin, called PayPal USD, or PYUSD, which is backed by the U.S. dollar. The California-based company said the new service will simplify cross-border commerce, increase merchant's profit margins and reduce transaction fees associated with international credit card processing. PayPal is offering a 0.99% transaction rate until July 31, 2026, lower than the average credit card transaction rate, which typically ranges between 1.5% to 3.5%, according to NerdWallet. "Building on our 25+ years in payments, we let users link their wallet, pay with any token, convert it instantly to PYUSD, and deliver USD to merchants in seconds. The result? Merchants pay less in fees and can instantly use funds," Alex Chriss, president and CEO of PayPal, said in a post on X. Businesses can opt into a beta version of the new system in the coming weeks, according to a company spokesperson. Availability will expand later this year, they added. "Cryptocurrency promised a more affordable financial system and instant global transfers. But challenges persist: extreme price volatility, complex wallets prone to errors, and irreversible transactions with no easy way to issue refunds. Pay with Crypto helps relieve these challenges," said Chriss in another X post. PayPal is used by tens of millions of merchants around the world, according to a company spokesperson. Last week, President Trump signed the GENIUS Act into law, further embedding the digital currency in the mainstream. The first major crypto legislation ever passed by Congress, the GENIUS Act establishes a regulatory framework for the $250 billion stablecoin market. "The Wizard of Oz" as you've never seen it before New memo outlines plans for Qatari plane donated for Air Force One use Extreme heat scorches the East Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
