PayPal Partners with Three Major Bitcoin Processors for American and Canadian Markets

PayPal Partners with Three Major Bitcoin Processors for American and Canadian Markets PayPal recently announced its partnership with three major Bitcoin payment processors: BitPay, Coinbase and GoCoin. The intent to assist digital goods merchants with the acceptance of Bitcoin payments beginning with those based in the US and Canada first.

PayPal has opted to integrate the third-party functionality with the PayPal Payments Hub since the three processors currently provide customers protection when using virtual currency. The company predicts that any product that may be obtained digitally will be sold in Bitcoin.

PayPal Senior Director of Corporate Strategy Scott Ellison said:

“PayPal has always embraced innovation, but always in ways that make payments safer and more reliable for our customers. Our approach to Bitcoin is no different. That’s why we’re proceeding gradually, supporting Bitcoin in some ways today and holding off on other ways until we see how things develop.

“PayPal also needs to follow the laws and regulations in every market we operate. For this reason, virtual currency exchangers and administrators interested in working with PayPal in the future must secure the appropriate licenses and put anti-money laundering procedures in place.”
  • Pay Pal is here in the US already. I have a Pay Pal account. I doubt very seriously that Pay Pal will have anything to do with a US player wanting to deposit in an online casino unless it is in one of those few states that have legalized land and online gambling already. For the rest of us US players, the only way that we will be allowed to use it is if we are standing in one of those states having some sort of holiday or vacation.
  • I haven't heard anything else on the market place in regards to Paypal making this addition to their banking options. Usually when something this big is about to happen then the business markets seems to get nosy and try to report on it. Maybe because Paypal wants everything to go smoothly they don't think it will happened anytime in their fiscal year. I was just trying to find info in the main business market news but not too much is mentioned. So all those people who have bit-coins to spend and want to go through Paypal will just have to be patient,
  • This is just indicates that bitcoin have good future. Such gigant like paypal is of course will not do any such steps if they did not sure that this will be good decision. So this is just indicates that bitcoins is good, and bitcoin casinos have good future.
  • This of course was a must......being a loyal Paypal customer,,,, I'm soooo glad to hear that they are taken baby steps and stopping when a question is left on the table. They absolutely are doing everything right when it comes to not rushing into things. Most companies just rush into things and don't outline every reaction to every action. I'm so thankful that PayPal Knows they must look at the action and reaction to make sure things are very secure. Security is number 1 once that is breached its very hard to earn that trust again. Keep up the great work PayPal!
  • Eughh, I can't think of a worse partner for Bitcoin than Paypal! There must be major opposition to this amongst the free information/open source movement I would guess. Still, if it provides an easier way of making payments in the currency for the time being, it could yet be a good thing. I just wish it was Skrill or Neteller instead...
  • I think that,s a good idea also Neteller i get some email telling me about them and i tried neteller already and its safe 100%
  • I wasn't surprised on iota. PayPal and Bitcoin are two sides of the same, well, currency.

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