PayPal has unveiled a new functionality that allows merchants in the US to accept payments in more than 100 cryptocurrencies, aiming to enhance international transactions and increase the use of its stablecoin.
The feature, referred to as Pay with Crypto, enables users to make payments using various cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Ripple (XRP), Binance Coin (BNB), Solana, and USD Coin (USDC), among others.
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In its press statement, the company indicated that the service will accommodate transactions from multiple wallets, such as Coinbase, Kraken, and MetaMask.
Payments made through this feature will be automatically converted into PayPal’s stablecoin PYUSD or traditional fiat currency at the point of sale.
Merchants will incur a transaction fee of 0.99% for these crypto payments, which PayPal claims is significantly lower than standard credit card processing fees.
This new offering is designed to simplify cross-border transactions, which PayPal highlighted as often being costly and complicated for small and medium enterprises.
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By GlobalDataAt present, the feature is exclusively available to US-based merchants, excluding those located in New York.
PayPal president and CEO Alex Chriss said: “Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations. Today, we’re removing these barriers and helping every business of every size achieve their goals.
“Imagine a shopper in Guatemala buying a special gift from a merchant in Oklahoma City. Using PayPal’s open platform, the business can accept crypto for payments, increase their profit margins, pay lower transaction fees, get near instant access to proceeds, and grow funds stored as PYUSD at 4%5 when held on PayPal.”
“Last week, we launched PayPal World, our global partnership bringing together five of the world’s largest digital wallets on a single platform, fundamentally reimagining how money moves around the world. By enabling seamless cross-border crypto payments, we’re breaking long-standing barriers in global commerce,” Chriss added.
“These innovations don’t just simplify payments—they drive merchant growth, expand consumer choice, and reduce costs. This is the future of inclusive, borderless commerce, and we’re proud to lead it.”
