PayPal enables crypto payments
A prominent payment platform is now supporting cryptocurrency transactions.
PayPal is launching Pay with Crypto, powered by PayPal, a service enabling instant crypto to stablecoin or fiat conversions for U.S. retailers to accept payments globally across more than 100 cryptocurrencies and wallets such as Coinbase and MetaMask.
According to PayPal, it is reducing transaction fees by up to 90% compared to traditional credit card processing with a transaction rate of 0.99%. Recently, the company also announced an agreement with Fiserv, a global provider of payments and financial services technology solutions, to expand stablecoin use globally.
"Businesses of all sizes face incredible pressure when growing globally, from increased costs for accepting international payments to complex integrations," said Alex Chriss, president and CEO, PayPal. "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, and get near instant access to proceeds."
Pay with Crypto, powered by PayPal, will be available to U.S. retailers in the coming weeks.
Square parent showcases bitcoin checkout
Block Inc., parent company of the Square mobile payment app and card reader and Cash App payment platform, recently demonstrated bitcoin payments on Square at a pop-up merchandise store called BTC Inc. featured at the Bitcoin 2025 conference held in May in Las Vegas.
By leveraging the Lightning Network decentralized blockchain solution that enables users to quickly send and receive bitcoin, the Square POS app enables the pop-up to accept bitcoin payments directly through its Square hardware for near-instantaneous, low-cost transactions.
Block expects rollout of bitcoin payment via the Square app to begin in the second half of 2025 and reach all eligible Square sellers in 2026, subject to applicable regulatory approvals.
Retailers slowly warm to bitcoin
While bitcoin is not yet a mainstream means of paying for consumer purchases, retailers have been gradually integrating the digital currency into their operations over the years. GameStop recently announced it is getting into bitcoin as a treasury reserve asset, and Walgreens allows customers to purchase bitcoin at NCR Allpoint ATMs in select stores.
In terms of accepting bitcoin as payment for transactions, quick service restaurant chain Chipotle has been partnering with pure digital payments platform Flexa to accept digital currencies including bitcoin for food orders since 2022.
[READ MORE: Chipotle promotes digital currency with gamified campaign]
Retailers including Newegg, Camping World and Sheetz also all accept bitcoin payment for at least some transactions.
