PayPal, one of the leading global online payments system, is set to include cryptocurrency services in 2021.
This means, the US will no longer have the initial exclusive access on this feature, yet will be made available globally.
Other than that, several new features will soon be applied on the company’s app services. Here’s what to expect.
Does PayPal buy and sell cryptocurrencies?
Over the past years, cryptocurrencies like bitcoin has been famous for few selected people. Though it’s still not widely accepted on most countries– due to its volatility, popular financial companies have been trying to add this currency in their system.
Just like others, PayPal also joins the team.
In its recent announcement, PayPal CEO Dan Schulman says the company’s integration of cryptocurrencies on its system will soon arrive in 2021.
Initially, America is the only one that has access to this feature. It aims to support popular cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
What does this mean?
Having PayPal as one of the official cryptocurrency apps in the world, speaks volume in the industry. However, what does it really mean?
According to PayPal’s page, anyone interested on cryptocurrencies can use the feature to:
- Buy digital assets
- Sell digital assets
- Hold digital assets
- View market information and learn about the currency
However, this feature may not be as useful as it supposed to be.
Since a lot seemed to be uninterested to put their digital assets on PayPal, the company announced recently, to expand its services soon.
The new features, will add an option for users to shop using cryptocurrencies across company’s 28 million merchants without requiring additional integrations on merchants’ part.
PayPal App’s new features: ‘Buy Now, Pay Later,’ Honey tools and more!
Not only cryptocurrency owners get a taste of the new PayPal. There are also few new soon-to-be-released app features of the company.
One massive change, is called the “Buy Now, Pay Later” service of the company. This recent service allows users to pay their bills in four payments.
Generally speaking, it’s called “installment.” PayPal already integrated this program in France, the United Kingdom (Pay of 3), and even the US.
“Buy Now, Pay Later,” feature will also be available across the world, in the upcoming months.
Meanwhile, another exciting add-ons in the new PayPal app, the merge of the company with popular shopping app, Honey.
Last year, PayPal bought Honey for $4 billion. However, the Honey services are still separate with the company’s app.
Starting in 2021, PayPal’s apps are set to include Honey’s shopping tools on the main app.
For example, the Wish List feature that allows users to track items they want to buy, price monitoring tools that alert to savings and price drops, plus its deals, coupons and rewards, may be soon accessed on PayPal app.
PayPal, not in good state amid pandemic
Just like other companies, PayPal is also majorly affected with the ongoing fight against pandemic.
In the recent stocks exchange, the company’s stock fell 3.4% in the market. This was despite the acquisition of Honey.
Maybe that’s the reason of many company changes.