The giant of PayPal digital payments (PYPL) said it is implementing a service that allows US merchants. UU. Accept more than 100 cryptocurrencies in purchase payment, since it aims to reduce cross -border rates.
The feature, called Pay with Crypto and available in the coming weeks, allows buyers to wear encryption wallets as MetamSk and coinbase at the end of the purchase. Payments can be made with digital assets such as Bitcoin (BTC), Ethher (ETH), XRP (XRP) and stable such as USDC and USDT, which cover 90% of the total capitalization of the cryptographic market. Merchants receive US dollars, resolving the transaction almost instantly, said a spokesman for Monday.
The company will charge a 0.99% service rate, about 90% less than international credit card processing, PayPal said.
“Companies of all sizes face incredible pressure when they grow worldwide, from higher costs to accept international payments to complex integrations,” said President and CEO Alex Chriss in a statement.
“Imagine a buyer in Guatemala buying a special gift from a merchant in the city of Oklahoma,” he cited as an example. “Using PayPal’s open platform, the business can accept payment cryptography, increase its profit margins, pay lower transaction rates, reach instant access to income and cultivate funds stored such as Pyusd with 4% when it is kept in Paypal.”
The deployment extends PayPal’s impulse to digital assets, which includes its US dollar stablecoin (Pyusd) and recent associations to expand the use of stablecoin worldwide. Merchants can also obtain performance in Pyusd balances held within PayPal accounts.
The Blockchain rails, especially the stables, are increasingly seen as a cheaper and faster alternative for cross -border payments than the traditional banking system.
Read more: PayPal takes your stable to stellar for cross -border remittances, payment financing
