PayPal has begun cautiously allowing customers in North America to pay for non-physical goods like music using the cryptocurrency, but has stopped short of integrating the payment method directly.
The online payments giant has instead chosen three smaller payment processor companies, BitPay, GoCoin and Coinbase to handle the Bitcoin payments on their behalf, saying that “all three companies have taken steps to ensure…customers are offered certain protections.” It’s believed that this is aimed to ensure that Bitcoin values do not fluctuate between time of purchase and processing.
The decision to trial a Bitcoin option hints that the currency is fast becoming a serious player in online payments – but PayPals’s safeguards also demonstrate that major brands remain wary of potential volatility.
To pay using Bitcoin, customers in the North America region can select the currency in their PayPal payments hub.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
Deutsche Bank plans to partner with fintechs that have complementary business models, rather than buying out tech start-ups and competing in the market, bank executives said at press briefing this week. They also discussed future strategies for the technology, securities and payments spaces.
From music festivals to motor racing, events and festivals are an integral part of the move to a cashless society, reports SIX Payment Services.
The US Commodity Futures Trading Commission approved LedgerX as the first regulated clearing house for derivatives contracts settling in digital currencies.