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PayPal now enables merchants to buy and sell cryptocurrencies. This service is currently available for Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Merchants can now add cryptocurrency payment options to their PayPal Commerce Platform and begin accepting digital assets from their customers.

When customers choose to pay with cryptocurrency at checkout, they will be directed to a cryptocurrency payment flow. Here, they can select their preferred cryptocurrency and complete the payment. PayPal will then convert the cryptocurrency to fiat currency and settle the payment with the merchant in U.S. dollars.

This service is integrated with PayPal Payouts, allowing merchants to hold their funds in cryptocurrency or opt to have them converted to fiat currency upon receipt. Additionally, PayPal will charge a 1.5% transaction fee for merchants using this service, further expanding their payment options and catering to the growing demand for cryptocurrency payments.

PayPal Merchants Can Now Buy and Sell Cryptocurrencies

PayPal Holdings Inc (NASDAQ:PYPL) is now enabling merchants to integrate cryptocurrency buying and selling services into their businesses. This integration will allow customers to make payments in Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).

According to a recent press release, PayPal merchants can add cryptocurrency payment options to their PayPal Commerce Platform. Once activated, customers will be able to select cryptocurrency as a payment method at checkout. They will then be redirected to a cryptocurrency payment flow where they can choose their preferred digital asset to complete the transaction.

Afterward, PayPal will convert the cryptocurrency to fiat currency and settle the payment with the merchant in U.S. dollars. This service is available for both online and in-person payments.

Moreover, merchants can choose to hold their funds in cryptocurrency or have them converted to fiat currency upon receipt through PayPal Payouts. This integration aims to simplify cryptocurrency acceptance for merchants and cater to the increasing customer demand for digital asset payments.

To utilize this service, merchants will be charged a 1.5% transaction fee by PayPal. This fee applies to each cryptocurrency purchase or sale made by customers at the merchant’s checkout. By offering this service, PayPal is expanding its merchant payment capabilities and catering to the growing adoption of cryptocurrencies.