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PayPal Might Integrate Bitcoin as Payment Option

UNITED STATES | PayPal might integrate Bitcoin into its payment options, said eBay CEO John Donahoe in an CNBC interview last week. This would allow shoppers to pay with the crypto-currency at online retailers that are set up to accept PayPal, like Home Depot, Barnes & Noble and many many others. Overstock.com, Zynga and Dish Network are among the companies that already accept Bitcoin in their online stores.

Bitcoin will play a very important role

Donahoe originally said the company was weighing the option at the annual shareholder meeting May 13. Bitcoin “will play a very important role in the future,” he said at the time. “It’s on our radar screen.” PayPal would be part of a string of big-name companies legitimising the “cryptocurrency.”

Large Retailers to Accept Bitcoin

Last week, Dish Network became the largest company to accept Bitcoin, joining the likes of Overstock.com and Zynga, which already offer the option. News of wider retail acceptance has boosted Bitcoin prices more than 80% after they hit a low in early April. One bitcoin currently trades for about $657 (485 euro).

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Sourced from Fortune, June 5th, 2014

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