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    Home » eBay may opt out of PayPal and start accepting cryptocurrency for payment

    eBay may opt out of PayPal and start accepting cryptocurrency for payment

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    By BlockchainJournal on May 14, 2019 News
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    The Internet site can translate the plans announced in December 2017.

    Although Lamborghini and parties on the yachts as a pre-party and a fter-party conference Consensus is not expected, but the bitcoin jerk led to the fact that the general optimism began to manifest itself in everything. And one cannot say that there is no basis for it: such a volume of transactions with cryptocurrencies ($ 29 billion per day) has never been observed.

    Against the background of such a demand for digital assets, the emergence of information that the giant of world e-commerce, eBay, may begin to accept cryptocurrency for payment, does not seem to be an unusual rumor.

    The reason for them was the appearance of two informational posters, from the content of which you can link eBay and payments by cryptocurrency.

    There's a buzz building up suggesting might soon start accepting cryptocurrency. If that happens, make it to the next level.

    Post >> https://t.co/E9SDXPUwkP #ebay #crypto #bitcoin #btc #trending #ebaycrypto #blockchain pic.twitter.com/hOC5hN85iL

    – Toqqn (@toqqnproject) May 13, 2019

    They were originally photographed by one of the visitors to Consensus, and then became viral on Twitter and Reddit.

    The media also drew attention to these posters, and it is no coincidence. The fact is that in February 2018, it became aware of a turning point in the development of eBay, when the giant of global e-commerce dispersed with the top management of PayPal and transferred payment processing to a technological solution from Adyen.

    The reason sounded in the company eBay: Adyen allows you to process payments with lower costs. Investors in this small technology startup based in the Netherlands are “voting for it”: its capitalization has grown almost 10 times in a little more than a year, from 2.3 to 22.47 billion dollars at the current moment.

    It also draws attention to the fact that, although PayPal continues to generally adhere to a cautious position with regard to cryptocurrencies, however, more bold statements about the future growth of Bitcoin’s prices are heard in the organization’s management. This sounds surprisingly contrasting against the backdrop of the fact that PayPal Vice President of Finance John Rainey continues to argue that "it is too early to say that the future of payments is behind Bitcoin."

    At the same time, there is an obvious possibility that the corporation may join in the “cryptocurrency race”, given that JP Morgan is already participating in it, and also the social network Facebook will join in the near future.

    What will eBay do?

    Presumably, the site may develop cooperation with the blockchain platform UTRUST, in the leadership of which, ironically, since September last year, former PayPal employee Sanya Kohn has been working.

    The UTRUST platform allows classic trading players to work with cryptocurrency payments, acting as a converter that converts digital assets into Fiat and credits them to the seller of goods or services.

    Pretty sure these guys will be announcing a partnership with ebay.

    They seem to create a solution for many currencies.

    Might not be a singular coin supported, but bullish news for crypto in general. pic.twitter.com/XOhGbnaK3G

    – ₿lackout (@ Bl4ack0ut) May 12, 2019

    At the same time, the commission is small – only 1%. Whether this cooperation will happen – time will tell. In any case, Scott Cutler, senior vice president of eBay Americas in December 2017, said that the company is “ seriously considering accepting Bitcoins for payment. ”

    Publication date 14.05.2019
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