PayPal launches crypto checkout service

PayPal has announced the launch of its new cryptocurrency checkout service ‘Checkout with Crypto.’

The feature enables consumers pay for select purchases at millions of online businesses with their cryptocurrency of choice.

Over the next few months the company plans to expand to even more businesses.

Last year the online payments provider enabled customers to buy, hold, and sell four types of cryptocurrency in its PayPal wallet.

PayPal customers in the US who have cryptocurrency holdings will be able to choose to check out with cryptocurrencies, including Bitcoin, Litecoin, Ethereum or Bitcoin Cash, via PayPal at the online checkout.

The option automatically appears in the PayPal wallet at checkout for customers with sufficient cryptocurrency balance to cover a 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."

PayPal said that the service can be offered by an online store without any additional integrations or fees required by the business.

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