PayPal CEO Says Digital Currencies Should Become Mainstream
PayPal Holdings Inc. CEO Dan Schulman said the use of digital currencies is expected to become more widespread as more merchants take a digital first approach to payments.
The whole world is going to go digital first, Schulman said at the Web Summit on Wednesday. Stores accept payments via smartphones and QR codes, even in stores, and more and more customers are starting to use digital wallets, which are natural complements to digital currencies .
PayPal announced in October that its customers can buy, sell and hold cryptocurrencies, including Bitcoin, Ether, Bitcoin Cash, and Litecoin, from digital wallets, as well as use virtual money to make purchases at all 26 millions of merchants in its network.
Schulman said he sees his biggest competitor as Ant Financial, China’s largest mobile payment company, which he says has had “huge success in China” with a comprehensive digital portfolio that includes “all the elements. financial services, all elements of shopping .
Written by Amy Thomson.
