Cryptocurrency payment integration in commerce now available through PayPal's newly launched "Pay With Crypto" feature.
PayPal Unveils "Pay with Crypto" Service to Revolutionize Global Commerce
PayPal, a leading name in digital payments, has taken a significant step forward in the world of cryptocurrency by launching its new service, "Pay with Crypto." This innovative offering aims to redefine how money moves around the world, enabling seamless cross-border crypto payments.
The service, which is set to be available to U.S. merchants in the coming weeks, allows businesses of all sizes to accept over 100 types of cryptocurrencies, including Bitcoin, Ethereum, USDT, USDC, and more. Integrated digital wallets such as Coinbase, MetaMask, Binance, OKX, Phantom, and Exodus will facilitate these transactions.
When a consumer pays with crypto, the funds are automatically converted into either fiat currency (USD) or PayPal's own stablecoin, PYUSD, for the merchant's account. This conversion happens instantly, facilitating near-instant settlement and seamless cross-border transactions.
PayPal's service promotes itself as substantially cheaper than traditional international credit card processing fees. The transaction fee for "Pay with Crypto" is a promotional 0.99% until July 31, 2026, which is significantly lower than typical credit card fees ranging from 1.5% to 3.5%. This reduction in fees can increase merchant profit margins, especially for cross-border commerce.
Moreover, merchants can earn interest—up to 4%—on PYUSD funds held on PayPal, adding a financial incentive for using stablecoins rather than fiat currency.
The service leverages Mesh's technology, which enables connectivity among dozens of cryptocurrencies and stablecoins, addressing complexities such as converting one stablecoin into another when needed, to ensure merchants receive their preferred settlement currency.
PayPal's "Pay with Crypto" service is a testament to the company's commitment to mainstreaming crypto payments by simplifying their use for consumers and merchants while lowering costs and settlement friction compared to traditional payment methods. This move is expected to drive merchant growth, expand consumer choice, and reduce costs in global commerce.
In partnership with Fiserv, PayPal is also working to expand the use of stablecoins globally, aiming to connect merchants to the $3+ trillion crypto market and tap into a global base of over 650 million crypto users.
Alex Chriss, President and CEO of PayPal, is proud to lead the future of inclusive, borderless commerce. He stated, "Our new service, 'Pay with Crypto,' is a significant step forward in our mission to make financial services more democratic and accessible to everyone, everywhere."
This service reflects PayPal’s strategy to mainstream crypto payments and break long-standing barriers in global commerce.
- By partnering with various digital wallets and Fiserv, PayPal's "Pay with Crypto" service aims to connect merchants to the global crypto market, thereby expanding consumer choice and driving down costs in international business.
- PayPal's "Pay with Crypto" service, which allows businesses to accept more than 100 types of cryptocurrencies, leverages technology to facilitate near-instant settlement and offers competitive transaction fees compared to traditional international credit card processing.
