PayPal Could Be Considering Bitcoin As A Payment Option
A report in the Wall Street Journal could mean that e-Bay could be looking to integrate Bitcoin into its payment system. According to the report eBay. Inc. has been quietly trying to integrate the option of virtual currency payments in their subsidiary Braintree. Ebay acquired the online payment company in 2013 for $800m.
We reported on the growing number of merchants who are starting to accept Bitcoin as part of their payment options. These include merchants like TigerDirect and Overstock. Last month also saw Wikipedia and Dish Networks announce that they will begin accepting Bitcoin. Added to that are casinos who accept Bitcoin for room reservations and restaurants in their complexes.
Bitcoin has not been welcomed by a lot of countries as the advantage of cheaper transaction fees and anonymity are the exact reasons why many fear it is the ideal tool for the black market.
This latest report that Braintree will almost certainly start integrating Bitocin is significant as some of their clients include big online companies like Uber and AirBnb. While in theory a subsidiary of ebay, Braintree could well be used as a test case for the more popular PayPal. Needless to say the endorsement of such a global online payment company utilizing Bitcoin could well be a game changer for the much troubled Bitcoin.
As to be expected ebay’s John Donahoe was quick to play it safe and cautiously said,” It’s a new disruptive technology, so, yeah, we’re looking at Bitcoin closely. There may be ways to enable it inside PayPal.”
The very fact that ebay have come out publicly to confirm their interest in Bitcoins could well mean that we could see the virtual currency sky rocket again in the coming months. Judging on the last few weeks, the positive publicity Bitcoin is getting certainly makes it worth investing a few dollars in the crypto currency which is well known for delivering spectacular dividends for the brave amongst us.