PayPal and Mastercard are very close to integrate crypto’s payments!!! - page 2.

cheezcarls

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Quote from: Juggy777 on July 20, 2020, 12:31:19 PM

According to Coindesk latest article PayPal has selected Paxos to manage PayPal crypto’s transactions, and in my personal opinion this is a big development as PayPal is used by million people all over the globe, and soon they all will be able to buy and sell crypto’s using PayPal.

Furthermore another positive news i.e. Mastercard will allow wirex to issue crypto based cards, and it’s quiet possible that people maybe able to exchange their crypto’s for fiat instantly using those crypto based cards.

Lastly I believe that these two news shall motivate people to buy and hodl bitcoins, but then again it’s quiet possible that they may quickly sell it too, however what do you’ll think of these two news?.

Sources:

https://www.coindesk.com/blockchain-bites-paypal-mastercard

https://www.paypal.com/uk/webapps/mpp/paypal-popup

And speaking of that, NewsCrypto.io has Paypal and VISA/Mastercard integration that lets you buy NWC tokens with this method.

Check here: https://newscrypto.io/blog/available-buy-nwc-with-paypal

With Paypal embracing and welcoming cryptocurrency in open arms, this is a huge step for crypto and blockchain enthusiasts like us. No doubt there will be more to come in a slow and sure way.

jossiel

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Quote from: Twinkledoe on July 21, 2020, 12:00:53 AM

Quote from: jossiel on July 20, 2020, 11:51:35 PM

Once it's already on the go, this will signify a massive adoption. PayPal users who don't like to use crypto might be trying it out soon with the use of their beloved platform.

But just like any other else, the worry is about the fee. If they can do something to lessen it, I guess that's a great incentive and a little by little when there's a demand, they can have a flat fee or at least an acceptable fee.

If the services are already available, users will not worry the fee if it is convenient for him at that moment. Remember, we are using bitcoin for so long though in some cases the transfer fees are expensive than other alts, yet, we still use bitcoin because of its availability even in our local exchanges. With the integration of crypto by these 2 giant financial companies, we will get good adoption in time.

That is likely if the service is very much convenient.

But to us who has been dealing with exchanges and services, if we find it expensive, we won't be staying on it. So at least, they have to be competitive for the fees so that it's accessible by everyone.

bryancruZ

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These are very big and important steps for the entire crypto space. There have been rumors about the integration of cryptocurrencies into these payment systems for a long time, but so far things are going rather slowly. Although we all know that such serious issues cannot be solved overnight. Nevertheless, I am sure that in the near future we will be able to use cryptocurrencies with the help of Mastercard and PayPal.

maydna

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If Paypal integrates crypto payments, of course, that will be good news for both user, crypto user, and Paypal user because we can pay with crypto or use Paypal processor. That can help the crypto to get mass adoption since Paypal user is almost in all countries, so the chance for the crypto to be accepted in other countries will be wide open. That can help Paypal too to grow their business because they can suggest their customer to have a new way of the investment, so they can invest in crypto while they use Paypal.

mezzaluna

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Them being integrated into Blockchain would really boost their security. It would also invite more users since knowing that some think Paypal has some poor security features even though carelessness and scammers are the reason of being involve in losing money.

PayPal is already a great electronic payment system that is available internationally and having some Cryptocurrency revolve around it would be good too. This adoption would really invite other companies to copy them which is a good thing.

shoreno

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Quote from: btc_angela on July 21, 2020, 12:11:08 AM

maybe we are just one step closer to adoption. However, it might takes as expected, I don't think just because these two big companies decided to jump on the crypto bandwagon we will see an immediate effect, it should not be the case. I agree that we need to look at how the fee are going to be set here, it will be another burden specially for crypto enthusiast.

not close but adoption is there already although we people arent contented with it because adoption for crypto are only under the 80 percent level . we want over than that and this could be the time that we are waiting for . of course effect arent imediate because people are going to be skeptical at first but since the partnership came from trusted brands , it wont take a long time for the people to adjust and embrace this new tandem . fees would be modified as well because people get used to the less to no fees at all offered by mastercard and paypal

OmegaStarScream

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Quote from: gentlemand on July 20, 2020, 04:06:57 PM

As for Paypal, we're going to have to wait and see what type of service it actually is. It's quite possible they'll only be offering an entry in your Paypal account linked to the Bitcoin price. You won't be able to deposit or withdraw the real deal.

I was thinking of the same thing. I doubt this will be any different from Skrill's implementation.

Quote from: Juggy777 on July 20, 2020, 12:31:19 PM

Furthermore another positive news i.e. Mastercard will allow wirex to issue crypto based cards, and it’s quiet possible that people maybe able to exchange their crypto’s for fiat instantly using those crypto based cards.

Not sure if I'm missing something, but Advcash has been providing MasterCards for a long time now, is there any difference?

btc_angela

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In paper it really sounds awesome and picturing that before they are going to integrate crypto payment's, maybe we are just one step closer to adoption. However, it might takes as expected, I don't think just because these two big companies decided to jump on the crypto bandwagon we will see an immediate effect, it should not be the case. I agree that we need to look at how the fee are going to be set here, it will be another burden specially for crypto enthusiast.

Twinkledoe

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Quote from: jossiel on July 20, 2020, 11:51:35 PM

Once it's already on the go, this will signify a massive adoption. PayPal users who don't like to use crypto might be trying it out soon with the use of their beloved platform.

But just like any other else, the worry is about the fee. If they can do something to lessen it, I guess that's a great incentive and a little by little when there's a demand, they can have a flat fee or at least an acceptable fee.

If the services are already available, users will not worry the fee if it is convenient for him at that moment. Remember, we are using bitcoin for so long though in some cases the transfer fees are expensive than other alts, yet, we still use bitcoin because of its availability even in our local exchanges. With the integration of crypto by these 2 giant financial companies, we will get good adoption in time.

jossiel

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Once it's already on the go, this will signify a massive adoption. PayPal users who don't like to use crypto might be trying it out soon with the use of their beloved platform.

But just like any other else, the worry is about the fee. If they can do something to lessen it, I guess that's a great incentive and a little by little when there's a demand, they can have a flat fee or at least an acceptable fee.

Darker45

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Cryptocurrency is here to play a major role in the world of finance. It may not occupy the finance world by storm but it surely is slowly creeping into the traditional market and gradually converting everything in the financial landscape.

Mastercard, just like its top competitor Visa, has had dealings with crypto companies in the past. So this is just an expansion on their part. Paypal, on the other hand, is a sort of a new player entering the crypto market although they must have already recognized the strong potentials of cryptocurrency years prior. Not to mention that they have already welcomed crypto-friendly people in their top positions. And they also have previously committed to joining the Libra Foundation before they suddenly decided to back out.

All these entries of global payment giants in the crypto market signals the legitimization of crypto in the world of finance. We'll see if they indeed share this view or they're just riding on current trend waves.

figmentofmyass

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Quote from: Juggy777 on July 20, 2020, 12:31:19 PM

Lastly I believe that these two news shall motivate people to buy and hodl bitcoins, but then again it’s quiet possible that they may quickly sell it too, however what do you’ll think of these two news?.

Sources:

https://www.coindesk.com/blockchain-bites-paypal-mastercard

https://www.paypal.com/uk/webapps/mpp/paypal-popup

if wirex is offering crypto mastercard accounts, it'll give people more ways to spend. i don't see that encouraging buying and holding.

my guess is that paypal's service will likely be like robinhood crypto---a broker allowing investors exposure to cryptocurrency, with no ability to deposit/withdraw them. so you probably can't buy and hold bitcoins with it, per se.

NeuroticFish

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I had the (good or bad?) luck to get Wirex card rejected at about same rate.
The forex rates are by far a bigger issue for me.
And the banking... is not the only thing. Now and then someone has to re-send identity and/or address papers, they don't get processed as good as expected and meanwhile the card cannot be topped up.

gentlemand

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Quote from: NeuroticFish on July 20, 2020, 04:28:50 PM

Wirex is still quite expensive, especially for those in countries where the currency is not GBP/EUR/USD and their support used to be sometimes awful.

Wirex charge 1% and have a spread they don't tell you about. I worked it out and the overall cost averages at about 1.7% of what you spend. The cost for using it in any currency other than the one it's issued in is in line with any other prepaid card - fooking horrible.

The Coinbase card charges 2.5%. Dunno what the cost of the Bitpay card is but that's US only.

I wouldn't touch Wirex for banking, that's where all the problems seem to be, but the card bit works fine, certainly far better than any Wavecrest cards which quite often got rejected.

News like this increases my confidence in them but I'll still only load, spend it all and run.

NeuroticFish

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I don't like PayPal. I use them only when I have no other choice. So I don't care about them.

Mastercard... well, crypto cards startups already issued cards (indirectly) under Visa or Mastercard brands. Now allowing them issue the cards directly could make the services more secure against Wavecrest type problems, but that won't help that much. Wirex is still quite expensive, especially for those in countries where the currency is not GBP/EUR/USD and their support used to be sometimes awful. Mastercard allowing them issue their cards directly will probably not solve most of the existing problems, the startups still need to get more.. mature.

gentlemand

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Wirex have been going for years. The only difference this will make is that it should make their service much more secure. So many of them have had the card provider balls up. It is a generally positive sign that a heavyweight is directly dealing with a crypto company.

As for Paypal, we're going to have to wait and see what type of service it actually is. It's quite possible they'll only be offering an entry in your Paypal account linked to the Bitcoin price. You won't be able to deposit or withdraw the real deal.

I wonder what these developments would make a 2010/11/12/13 Bitcoin fan think.

ChiBitCTy

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I am honestly blown away with all of the PayPal bitcoin news of late. I absolutely despise PayPal as I am well aware of how corrupt this company is and they are the LAST company that want's bitcoin to succeed so that just goes to show how much bitcoin has progressed to this point. At one point this seem like it would never happen.

lepbagong

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as long as this is a change to be used so that users can more easily do something quickly, of course it needs to be appreciated.

we must admit that paypal has long been used by many people and are already familiar, if there are changes to correct the shortcomings, it is very much awaited, but if it's just ordinary I don't think it should be something to be proud of.

if mastercard wants to innovate by making it easy for crypto holders of course this is a renewable step and many will be helped and don't need twice the work, so it's very easy.
but maybe for those who are already accustomed to exchanging to fiat and using local banks for transactions, this news certainly does not affect.

but both of these news will not affect the movement of bitcoin, all are accustomed to hearing innovations which is certainly to make it easier for bitcoin owners. because those who do not directly from bitcoin but from people who really need to accommodate bitcoin and can benefit from their work.

nicecrypto

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What can o say, this is good thing as far as I understand, PayPal is a big payment system with millions of subscribers, with such news it will most likely boost the awareness of crypto from all indications, i use PayPal occasionally to buy from email, although there are some restrictions in my country but at least I can make payment with it, with the integration of crypto in their system, it will give more option, love the idea, if it will be implemented.

Bitum

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This is really good news. It looks like payment monsters really want to establish themselves on crypto market. And I think it will only benefit everyone. Here is the latest news from Wirex: https://www.businesswire.com/news/home/20200720005148/en/Mastercard-Accelerates-Crypto-Card-Partner-Program-Making#:~:text=Aiding%20adoption%20and%20creating%20innovative,compliant%20payment%20cards%20to%20market

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