MetaMask Integrates PayPal for Easy ETH Purchases And Transfers

Jimmy Aki
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Popular Ethereum wallet service MetaMask has collaborated with pro-crypto payment processor PayPal to provide customers with easy access to Ethereum payments.

U.S Customers Get First Crack

ConsenSys, MetaMask’s parent company, announced on Wednesday that they partnered with the largest payment processor to roll out a new service that allows eligible users to purchase and transfer Ethereum seamlessly via PayPal’s platform while also connecting directly to their MetaMask wallets for easier finding.

According to the report, the Paypal service will be available to customers in the United States over the next few weeks. The country is MetaMask’s largest market, and the feature will be rolled out there first. However, the feature will not be available to customers in Hawaii.

Lorenzo Santos, a product manager at the wallet service, explained that the integration would allow the company’s American users to explore the Web3 ecosystem more easily.

He added that the integration would make it convenient for new customers to buy crypto by skipping several processes, thus improving their onboarding process. Instead of purchasing crypto through centralized exchanges and sending it to their MetaMask wallets, users can now buy directly using an interface they are more familiar with.

Santos also confirmed that MetaMask would only charge its 1% service fee for all purchases. However, PayPal’s transaction fees will also be charged, so users should keep this in mind.

He further revealed that the PayPal integration will be available only through the MetaMask mobile app for the time being, with support for the browser coming in the first quarter of 2023.

Easier Interactions With Crypto

The move highlights an increasing trend among payment services to incorporate cryptocurrency in order to attract a growing market segment. PayPal continued to expand its crypto support, following a trend that began nearly two years ago when it initially introduced crypto support to its platform.

In the past few months, this support from traditional payment services has only grown stronger. In November, global peer-to-peer payments platform MoneyGram announced that it would allow customers in nearly all the states in the United States and the District of Columbia to buy, sell, and hold crypto via its MoneyGram mobile app. The service will begin by supporting  Bitcoin, Ethereum, and Litecoin, but it has committed to expanding its support in 2023.

Back in October, a trademark attorney also confirmed that popular payment service Western Union had filed up to three crypto-related trademarks. Activities covered by the trademark include issuing tokens of value, exchanging cryptocurrencies, managing crypto wallets, and even a crypto brokerage service.

Western Union, a major provider of cross-border remittances, easily showed interest in the crypto market. As early as 2015, the company collaborated with Ripple to handle remittance payments. However, the partnership never passed the testing stage, and Western Union declared that it would not add crypto to its services.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.