PayPal launches "Pay with Crypto" and reduces cross-border fees by 90%

Written by: Blockchain Knight

According to a statement on July 28, PayPal has launched a new program called "Pay with Crypto", which aims to streamline global business processes and significantly reduce cross-border transaction costs.

The company says the service reduces international transaction fees for merchants by 90% compared to traditional credit card processors.

This breakthrough in functionality is made possible by instant exchange technology for crypto-to-fiat or PayPal's native stablecoin, PayPal USD (PYUSD). The platform supports over 100 cryptocurrencies, including Bitcoin, Ethereum, and is compatible with mainstream wallets like Coinbase, MetaMask, and more.

PayPal expects this move to reach more than 650 million cryptocurrency users worldwide, helping merchants enter the rapidly growing digital asset economy.

Alex Chriss, President and CEO of PayPal, emphasized that this initiative promises to remove long-standing barriers in international commerce.

"Imagine a Guatemalan consumer buying a specialty gift from a merchant in Oklahoma City. Through PayPal's open platform, merchants can accept cryptocurrency payments, increase profit margins, reduce transaction fees, earn near-instant earnings, and see a 4% increase in earnings when holding PYUSD at PayPal."

"Pay with Crypto" integrates fiat and crypto payments into a single interface, providing consumers with flexible payment options while helping merchants expand into the global market. This also aligns with PayPal's overall strategy to expand stablecoin applications and improve financial efficiency.

The initiative follows developments such as PayPal's recent partnership with Fiserv to promote global stablecoin adoption.

Meanwhile, PayPal recently launched its new platform, "PayPal World," which aims to connect mainstream digital wallets and streamline cross-border business processes.

The initiative will initially enable interoperability between five key players: PayPal, Venmo, Tenpay Global, NPCI International (UPI), and Mercado Pago.

The company said this further underscores its commitment to "simplified, low-cost digital commerce." Chriss said:

"These innovations not only streamline the payment process but also drive merchant growth, expand consumer choice, and reduce costs. This is the future of inclusive, borderless commerce, and we're proud to lead this change."

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