POS Retail

PayPal Introduces "Checkout with Crypto"

PayPal Holdings, Inc. today announced the introduction of Checkout with Crypto, a new feature that greatly extends cryptocurrency's usefulness. PayPal customers of cryptocurrency holdings in the United States would be able to opt to check out with crypto seamlessly via PayPal at checkout and would be accessible at millions of major online businesses which will continue to grow throughout the coming months.

Customers using Checkout with Crypto can check out securely and quickly, transferring cryptocurrency holdings to fiat currency1 at checkout, with an assurance of value and no extra processing costs, building on the opportunity to buy, retain, and sell cryptocurrency with PayPal. Checkout with Crypto would appear in the PayPal wallet for customers that have enough cryptocurrency balance to fund a qualified order.

"As the use of digital payments and digital currency grows, the launch of Checkout with Crypto continues our emphasis on driving mass acceptance of cryptocurrencies while offering PayPal customers options and convenience in the ways they can pay using the PayPal wallet," said Dan Schulman, president, and CEO of PayPal. "Enabling cryptocurrencies to be used to enable payments at businesses around the world is the next chapter in pushing digital currency ubiquity and mainstream adoption."

Checkout with Crypto adds another way for shoppers to pay and businesses to be compensated, enhancing the utility of cryptocurrency holders.

Introducing a New Way for Businesses to Get Paid

Checkout with Crypto helps a business's customers to pay with cryptocurrencies without needing any extra integrations or payments from the business. Both purchases are settled in USD and converted to the relevant business currency using the regular PayPal exchange rates. Checkout with Crypto helps customers to sell bitcoin via PayPal and then pay a business for select online transactions in a single smooth checkout flow.

Checkout with Crypto is a logical expansion of the large portfolio of services available to merchants to drive interaction with their clients, and it continues PayPal's dedication to enabling choice in the way customers pay and businesses get paid.

Using Checkout with Crypto

Checkout with Crypto would function as a payment form for a buyer to choose whether they have enough cryptocurrencies of a particular sort in their PayPal wallet to support the transaction amount. The Checkout with Crypto payment flow, which occurs alongside other payment options in the PayPal wallet such as a bank account, balance, or credit card/debit card, remains identical and common to other ways of checking out with PayPal:

• If a consumer has an adequate balance of cryptocurrencies to fund a qualifying order, crypto would be shown as a payment form for that transaction during the checkout process.

• Customers will be able to choose their preferred cryptocurrency – Bitcoin, Litecoin, Ethereum, or Bitcoin Cash – based on their PayPal accounts and the balances available in each cryptocurrency. Each transaction will only use one form of cryptocurrency.

• When the customer approves the order, PayPal converts the cryptocurrency to fiat currency on the customer's behalf and the exchange is done. The buyer will be given a record of both the cryptocurrency transaction and the item purchased.

• PayPal does not charge a processing fee by using cryptocurrencies to make a purchase – a cryptocurrency exchange spread is built into the conversion from cryptocurrency to USD.


Qualified Checkout with Crypto transactions provide PayPal's safety, security, and other advantages, such as 24/7 fraud prevention, return shipping, and purchasing protection on eligible items. Checkout with Crypto is also available to PayPal customers in the United States.

Fiat currency is government-issued money that is not backed by a tangible asset like gold or silver but only by the government that issued it.

About PayPal
For more than two decades, PayPal has been at the forefront of the digital payment boom. The PayPal network enables more than 375 million customers and retailers in more than 200 countries to enter and prosper in the global economy by leveraging technology to make financial services and commerce more convenient, affordable, and secure.

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