PayPal launches "Pay with Crypto", reducing cross-border fees by 90%

PayPal expects that this move will cover over 650 million Crypto Assets users worldwide, helping merchants enter the rapidly rising digital asset economy.

Written by: Blockchain Knight

According to a statement on July 28, PayPal has launched a new program called "Pay with Crypto" aimed at simplifying global business processes and significantly reducing cross-border transaction costs.

The company stated that the service can reduce international transaction fees for merchants by 90% compared to traditional credit card processors.

This breakthrough in functionality is due to the instant exchange technology of Crypto Assets to fiat currency or PayPal's native stablecoin PayPal USD (PYUSD). The platform supports over 100 types of Crypto Assets, including Bitcoin and Ethereum, and is compatible with mainstream wallets such as Coinbase and MetaMask.

PayPal expects that this move will cover over 650 million Crypto Assets users worldwide, helping merchants enter the rapidly rising digital asset economy.

PayPal President and CEO Alex Chriss emphasized that the plan is expected to eliminate long-standing barriers in international business.

He stated: "Imagine that consumers in Guatemala purchase specialty gifts from merchants in Oklahoma City. Through PayPal's open platform, merchants can accept Crypto Assets payments, increase profit margins, reduce transaction fees, obtain revenue almost instantly, and earn a 4% rise in profits when holding PYUSD in PayPal."

"Pay with Crypto" integrates fiat currency and crypto payments into a single interface, providing consumers with flexible payment options while helping merchants expand into global markets. This aligns with PayPal's overall strategy to broaden the application of stablecoins and enhance financial efficiency.

The program was launched following PayPal's recent collaboration with Fiserv to promote the global adoption of stablecoins.

At the same time, PayPal recently launched the new platform "PayPal World", aimed at connecting mainstream digital wallets and simplifying cross-border business processes.

This initiative will initially enable interoperability among five key players: PayPal, Venmo, Tenpay Global, NPCI International (UPI), and Mercado Pago.

The company stated that this further demonstrates its commitment to "simplified, low-cost digital commerce." Chriss said:

"These innovations not only streamline payment processes but also drive merchant rise, expand consumer choices, and reduce costs. This is the future of inclusive, borderless commerce, and we are proud to lead this transformation."