PayPal Merchants Now Accept Bitcoin
An SEC filing April 10. 2015 by PayPal hints its merchants can accept Bitcoin. The filing reads:
A merchant can typically open a standard PayPal account and begin accepting payments through PayPal within a few minutes. Most online or mobile merchants can onboard quickly and are not required to invest in new or specialized hardware. Our Payments Platform supports growth with a variety of value-added services designed to help businesses of all sizes manage their cash flow, invoice clients, pay bills, and reduce the need for merchants to receive and store sensitive customer financial information. For our standard service, we do not charge merchants setup or recurring fees. A merchant can also integrate with Braintree to begin accepting payments with credit or debit cards, PayPal, Venmo, digital currencies such as Bitcoin, or other payment solutions with a single integration.
Last September PayPal started accepting Bitcoin through Braintree, also partnering with Coinbase, BitPay and GoCoin.
“PayPal is playing the role of the intermediary, but the cost will be left up to the merchant and the payment processor,” said Scott Ellison, PayPal’s senior director of competitive intelligence and corporate strategy.
In 2014, PayPal told the Australian Senate:
“While the currency itself should not be regulated, and transactions by individual users without the assistance of the intermediaries should not be regulated, companies that provide a financial service for digital currency transmission, for issuance or sale of digital currency, or for exchange with other currencies such as the Australian Dollar, should be regulated in a manner similar to the existing regulations that apply to other payment services… Those regulations, however, should be adapted to recognize the specific details of how different digital currencies work, particularly ‘decentralized’ digital currencies that are not controlled by a specific issuer.”