The American online payment system Paypal doesn’t support Bitcoin or any cryptocurrencies so far due to the volatile and unpredictable nature of digital currency. But on the other hand, the crypto market is booming more and more companies endorsing cryptocurrencies especially vast acceptance of Bitcoin and other major coins in the market, Paypal is also considering to support cryptocurrencies once it got stabilized.
Right now, we don’t see a lot of interest from our merchants. But if it’s something that stabilizes in the future and is a better currency, then we’ll certainly support that John Rainey CFO PayPal
There are other online payment systems in the market that support cryptocurrencies, Square Cash is one of them and they support Bitcoin since November 2017, are growing much faster than “Venmo”, Mobile payment service of PayPal.
According to the sources the mobile app Square Cash has almost 28 Million cumulative downloads and Venmo of PayPal has almost 29 Million downloads. It shows that Square Cash is growing faster than Venmo, and it happened after Square Cash started accepting Bitcoin. Jack Dorsey who is the founder of social media app Twitter and mobile payment app Square Cash said that he is very much hope that Bitcoin will become the Native Currency of the Web.