PayPal Introduces Bitcoin
Mobile payment processing giant PayPal announced this week that they will be accepting Bitcoin… Sort of. A few weeks ago the news was only that Braintree will be set up to work with Bitcoin. Braintree is a subset of PalPal that helps merchants accept and process payments on line and in mobile apps by providing them credit card storage and a reliable payment gateway. This week PayPal released details on deals with some of the leaders in Bitcoin payment processing: BitPay, GoCoin, and Coinbase. Now, any one of PayPal’s merchants who is selling digital goods like downloadable music and games can opt to be paid in Bitcoin.
Although they’ve taken a step forward, PayPal says they are not ready to integrate Bitcoin into the mobile wallet. As Bitcoin becomes more or less popular, they say they will continue to make decisions regarding its inclusion. For now, they choose to remain cautious in favor of customer support protection.
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