SHOCKING AS VISA, PAYPAL TO ALLOW CUSTOMERS TO PAY WITH CRYPTOCURRENICES
PayPal and Visa have both hopped on the digital currency trend, giving customers more choices to make payments
Visa and PayPal newly said that they would allow the use of cryptocurrency on their platforms.
According to Reuters, Visa said yesterday that it would permit customers to specifically use the cryptocurrency USD Coin in transactions performed across its payment network. Visa also said the news wire that it launched a pilot program with Crypto.com — a crypto platform — and will seek out other partners later on.
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Merchants get paid in standard money, with PayPal converting cryptocurrency to US dollars to settle transactions at the time of sale, according to the Silicon Valley-based company.
Tesla last week began officially accepting bitcoin as a currency to purchase electric autos, according to a tweet by chief executive Elon Musk.
“You can now buy a Tesla with bitcoin,” Musk said on Twitter, implementing a plan announced in February to accept the cryptocurrency as a form of payment.
Tesla last week began officially accepting bitcoin as a currency to purchase electric autos, according to a tweet by chief executive Elon Musk.
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“You can now buy a Tesla with bitcoin,” Musk said on Twitter, implementing a plan announced in February to accept the cryptocurrency as a form of payment.
“We see growing demand from consumers across the world to be able to access, hold and use digital currencies and we’re seeing demand from our clients to be able to build products that provide that access for consumers,” Cuy Sheffield, Visa’s head of crypto, said in a statement.
As The Verge points out, PayPal announced today that U.S. customers can also now pay with Bitcoin, Ethereum, Litecoin or Bitcoin Cash. Any payment made in cryptocurrency will immediately be converted to U.S. dollars in order to complete a transaction. The publication further points out that the crypto-payment feature is set to automatically appear in the PayPal wallet if a user has a “sufficient cryptocurrency balance to cover an eligible purchase.”
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