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Checkout with Crypto allows the customers to sell their cryptocurrency through PayPal at the time of checkout, then settle the actual transaction in U.S. dollars. For the businesses, that means nothing really changes on their end — they’re still being paid in USD, not cryptocurrency. But PayPal’s feature makes it possible for this transaction to take place within the same checkout flow, making it easier on shoppers to quickly make their purchases using cryptocurrency.
“Checkout with Crypto allows businesses to accept the proceeds from sales of cryptocurrency as a payment type, all within the current PayPal integration, removing the need for any additional action for businesses,” Magats said. “PayPal handles the crypto sale and conversion with the consumer and passes on U.S. dollars to the business for the purchase, streamlining the process for businesses.”
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