PayPal Rolls Out Crypto Payment Option for U.S. Businesses
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On July 28, PayPal introduced Pay with Crypto, a new checkout feature that allows businesses in the United States to accept payments in over 100 cryptocurrencies. Each transaction is converted immediately into U.S. dollars or PayPal’s stablecoin, PYUSD. This gives sellers the benefit of accepting crypto without worrying about price changes.
0.99% Flat Fee Set for New Crypto Payment Service
According to the press release, the new crypto payment service is designed to lower cross-border transaction fees and offer merchants faster, simpler access to their funds.
The President and CEO of PayPal, Alex Chriss, stated that businesses of all sizes face serious challenges during a global expansion. He also added that with the launch of Pay with Crypto, PayPal is removing these barriers.
https://twitter.com/PayPal/status/1949820518615453939
Customers can now use well-known digital coins like Bitcoin, Ethereum, Solana, XRP, USDT, and USD Coin to make purchases with merchants that use PayPal.
Once the payment is made, PayPal immediately switches the crypto into U.S. dollars or PYUSD, so the business gets paid in a steady currency without waiting or worrying about price swings.
PayPal users can also connect a wide range of crypto wallets to the platform. These include Coinbase Wallet, MetaMask, Binance, Kraken, OKX, Phantom, and Exodus, thus making it easy for customers to pay with the assets they already hold.
To support this new capability, PayPal has introduced a 0.99% flat fee on all crypto payments made through the system.
This is a significant drop compared to traditional credit card fees. For example, Visa charges merchants around 1.75% per transaction. With Pay with Crypto, PayPal claims its fee is up to 90% lower, giving merchants a more affordable way to accept payments, especially across borders.
However, not everyone has access yet. The new crypto payment feature is currently available to merchants in most U.S. states. Residents of New York are excluded from the rollout due to regional regulatory constraints.
Still, the move marks a major step forward for PayPal’s presence in the crypto payment ecosystem.
Governments and Global Businesses Push Crypto Forward
PayPal’s move comes at a time when crypto is gaining ground among large firms and government bodies alike. In June, VMS Group, a Hong Kong investment firm managing $4 billion in assets, announced a $10 million investment in Re7 Capital’s crypto hedge fund.
That same month, the California State Assembly passed AB 1180 in a 68–0 vote. The bill gives state agencies the ability to accept crypto payments, a notable step toward broader government use.
https://twitter.com/CryptoCoinShow/status/1930216034893443444
In Brazil, Binance’s integration with Pix now allows people to pay regular bills with over 100 digital currencies. The funds are automatically converted into Brazilian reais at checkout, removing any extra steps for the user.
Meanwhile, Dubai’s Department of Finance reached a deal with Crypto.com during the Dubai Fintech Summit. The agreement allows residents to pay for government services using crypto, another sign of growing acceptance.
Across sectors and regions, crypto is becoming more than a niche option. With PayPal’s latest update, digital payments are not just more accessible, they’re part of everyday business.
