Fintech

PayPal Launches "Checkout with Crypto"

- PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the launch of Checkout with Crypto, a new feature which significantly expands the utility of cryptocurrency. Available at millions of global online businesses and continuing to expand over the coming months, PayPal customers with cryptocurrency holdings in the U.S. will be able to choose to check out with crypto seamlessly within PayPal at checkout.

PayPal customers in the U.S. will be able to choose to check out with crypto seamlessly within PayPal at checkout.

Building on the ability to buy, hold and sell cryptocurrency with PayPal, customers using Checkout with Crypto can check out safely and easily, converting cryptocurrency holdings to fiat currency 1 at checkout, with certainty of value and no additional transaction fees. Checkout with Crypto will automatically appear in the PayPal wallet at checkout for customers with sufficient cryptocurrency balance to cover an eligible purchase.

"As the use of digital payments and digital currencies accelerates, the introduction of Checkout with Crypto continues our focus on driving mainstream adoption of cryptocurrencies, while continuing to offer PayPal customers choice and flexibility in the ways they can pay using the PayPal wallet," said Dan Schulman, president and CEO, PayPal. "Enabling cryptocurrencies to make purchases at businesses around the world is the next chapter in driving the ubiquity and mass acceptance of digital currencies."

With Checkout with Crypto, cryptocurrency is another way for customers to pay and businesses to get paid, adding enhanced utility for cryptocurrency holders.

Introducing a New Way for Businesses to Get Paid
Checkout with Crypto offers a business's customers a way to checkout with cryptocurrency, without any additional integrations or fees required by the business. All transactions are settled in USD and converted to the applicable currency for the business at the standard PayPal conversion rates. Checkout with Crypto offers customers the ability to sell cryptocurrency through PayPal to then pay a business for select online purchases in one seamless checkout flow.

Checkout with Crypto continues PayPal's commitment to enabling choice in the way customers pay, and how businesses get paid and is a natural extension of the broad portfolio of services offered to merchants to drive engagement with their customers.

Using Checkout with Crypto
Checkout with Crypto will appear for a customer to select as a payment method if they have sufficient cryptocurrency of a single type held in their PayPal wallet to cover the purchase price. Appearing alongside other payment methods in the PayPal wallet like a bank account, balance or credit card/debit card, the Checkout with Crypto payment flow remains similar and familiar to other ways of checking out with PayPal:

  • At checkout, if a customer has sufficient balance of cryptocurrency to cover an eligible purchase, crypto will automatically display as a payment method for that purchase.
  • Customers will be able select their cryptocurrency of choice – Bitcoin, Litecoin, Ethereum or Bitcoin Cash, depending on what they are holding with PayPal and the balances available in each cryptocurrency. Only one type of cryptocurrency can be used for each purchase.
  • Once the customer confirms the purchase, the cryptocurrency is converted to fiat currency by PayPal on the customer's behalf and the transaction is completed. The customer will receive a record of both the crypto sale, as well as the purchased item.
  • PayPal charges no transaction fee to checkout with crypto – a cryptocurrency conversion spread will be built into the conversion from crypto to USD.

Eligible Checkout with Crypto purchases include the safety, security and other benefits of using PayPal, including 24/7 fraud protection, return shipping and purchase protection on eligible items. Checkout with Crypto starts rolling out to PayPal customers in the U.S. today.

1 Fiat Currency is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 375 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.

Media Relations Contact
Tom Hunter
thhunter@paypal.com


PayPal Logo (PRNewsfoto/PayPal)

Cision View original content to download multimedia: http://www.prnewswire.com/news-releases/paypal-launches-checkout-with-crypto-301258002.html

SOURCE PayPal Holdings, Inc.

News Provided by PR Newswire via QuoteMedia

The Conversation (0)

Introducing the Venmo Teen Account

  • Parents and legal guardians can now open a Venmo Teen Debit Card and a Venmo account for teenagers 13 to 17 years old, so they can send, receive, and spend money
  • Offers built-in parental controls and oversight capabilities

Venmo today introduced the Venmo Teen Account, providing parents and legal guardians the ability to open a Venmo account for their teenagers between the ages of 13 to 17-years-old so they can send and receive money. The Venmo Teen Account also comes with a Venmo Teen Debit Card 1 . For the first time, the Venmo Teen Account gives teenagers a way to engage with and learn more about managing money through the Venmo app. The Venmo Teen Account will allow parents to monitor transactions, manage privacy settings, send money to their teen, and will help parents to educate their teens on creating healthy money habits.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Fisker Enters Next Phase of Production for Electric Fisker Ocean

  • Fisker begins ramping up production to meet customer demand for the electric Fisker Ocean
  • Next phase of Fisker Ocean One deliveries will start in June in European and US markets

Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world's most emotional and sustainable electric vehicles, is commencing the next phase of production as it accelerates its global launch of the electric Fisker Ocean SUV, and is planning to deliver to next customers across Europe and US markets starting in June.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230515005448/en/

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Fisker Inc. Announces First Quarter 2023 Financial Results

Fisker Inc. Announces First Quarter 2023 Financial Results

  • Company delivers first Fisker Ocean Ones in Copenhagen, Denmark and Munich, Germany, establishing delivery process to early customers.
  • Fisker inaugurated its first two customer locations in April at the Vienna and Copenhagen Centers+, which were followed by the opening of two Fisker showrooms in Munich, one at Motorworld plus our flagship Lounge; the Los Angeles flagship Lounge is expected to open later this month. Additional locations to be opened across Europe and US throughout 2023.
  • US EPA testing completed for the Fisker Ocean Extreme; Fisker expects to receive EPA and CARB approvals later this month and then start US deliveries in June.
  • Q1 2023 operational results consistent with company expectations. Ended quarter with a solid cash and cash equivalents balance of $652.5 million. This excludes $22 million of pending VAT receivables.
  • Fisker Ocean awareness and recognition continues to expand; Fisker recently won the prestigious German Red Dot award for product design. Fisker Ocean and PEAR reservations and orders total over 70,000 as of May 8, 2023.
  • Four-stage production plan shifts to right based on current homologation and supply chain timelines. Fisker plans to produce 1,400-1,700 vehicles in Q2, provided all partners deliver. Fisker expects to have a steep ramp up in Q3, followed by a monthly run rate of approximately 6,000 vehicles for the rest of the year, and forecasts 32,000-36,000 units produced in calendar 2023.

Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world's most emotional and sustainable electric vehicles, today announced its financial results for the first quarter ended March 31, 2023.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230509005561/en/

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

PayPal Reports First Quarter 2023 Results

PayPal Holdings, Inc. (NASDAQ: PYPL) today announced its first quarter 2023 results for the period ended March 31, 2023 . The earnings release and related materials discussing these results can be found on its investor relations website at https:investor.PYPL.comfinancialsquarterly-resultsdefault.aspx .

PayPal Holdings, Inc. will host a conference call to discuss these results at 2:00 p.m. Pacific time ( 5:00 p.m. Eastern time ) today. A live webcast of the conference call will be available at https://investor.pypl.com . In addition, an archive of the webcast will be accessible for 90 days through the same link.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Fisker Completes First German Vehicle Registration and Opens New Customer Facilities in Munich

Fisker Completes First German Vehicle Registration and Opens New Customer Facilities in Munich

  • Fisker registers the first all-electric Ocean SUV in Germany after the handover of the first vehicle to its new owner in Denmark
  • The First Fisker Ocean in Germany will be delivered to CEO Henrik Fisker
  • Two brand-new customer facilities in Munich City, at Kaufingerstrasse 12 and the Motorworld Munich, open their doors on May 8, 2023
  • The Fisker Lounge Munich is open to the public Monday-Friday, 10am-7pm CEST and Saturday, 10am-6pm CEST
  • Customers can visit the Showroom at Munich Motorworld from Tuesday-Friday, 11am-5pm CEST and Saturday, 10am-6pm CEST

Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world's most emotional and sustainable electric vehicles, continues its phased launch of the all-electric Fisker Ocean SUV in Europe with the registration of the first Fisker Ocean in Germany and the opening of two new customer facilities in Munich.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230508005422/en/

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Fisker Delivers First All-Electric Fisker Ocean SUV

Fisker Delivers First All-Electric Fisker Ocean SUV

  • The first customer of the all-electric Fisker Ocean SUV took delivery of their new vehicle today in Denmark
  • Fisker Chairman and CEO Henrik Fisker personally presented the new owner with their Fisker Ocean One launch edition model
  • The handover took place at the Fisker Center+ facility in Copenhagen
  • Delivering up to 707km/440 UK miles confirmed WLTP range, the Fisker Ocean One and Ocean Extreme offer the highest driving range of any battery-electric SUV available in Europe

Fisker Inc. (NYSE: FSR) ("Fisker"), driven by a mission to create the world's most emotional and sustainable electric vehicles, announces that the first customer has taken delivery of the brand-new Fisker Ocean all-electric SUV.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230505005250/en/

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×