#paypal digital payment

PayPal has launched a new ‘Pay with Crypto’ feature, enabling merchants to accept payments over 100 cryptocurrencies. Once a payment is made, PayPal will automatically convert it into fiat currency or PayPal USD (PYUSD). PayPal will be charging a 0.99% transaction fee for all crypto payments. The central bank also emphasized that digital payment fees are expected to be lower than charges for manual or over-the-counter transactions because electronic channels are generally more efficient and cost-effective to operate. The BSP said the new framework supports its broader goal of promoting digital payments, financial inclusion, and innovation while ensuring adequate consumer protection and regulatory oversight. The BSP said the updated rules aim to create a more sustainable pricing environment for digital payments while ensuring consumers continue to have access to fast, secure, convenient, and affordable electronic fund transfer services. The proposed measure aims to create a nationwide digital payments system for transactions with the government and between private groups. The bill seeks to expand the use of digital payments in the country. Read more in our articles including "PayPal introduces Pay with Crypto feature" and "Banks, e-wallets face new BSP rules on digital payment fees".