PayPal beat Square to the punch?
Discussion
PayPal is trying to be the middleman on something that doesnβt need middlemen.
This is the model they have always had π€·ββοΈ
π₯π₯
Nah. It's a pretty shitty product.
Square, you can pay a merchant from any lightning wallet and the merchant can receive Bitcoin (or convert it if they want).
PayPal, you can pay a merchant only from Bitcoin held by Paypal or a linked exchange account. They convert it to PayPal's stablecoin, then to USD. Merchant cannot receive Bitcoin. Maybe they could convert it on PayPal to Bitcoin for more fees.
Square hasnβt rolled out to all merchants. This is something new announced by PayPal as of today, rolled out to all US merchants. Are you describing this new rollout, or the approach they took a few years ago.
The one Paypal announced today. That's how it works. According to this
https://fortune.com/crypto/2025/07/28/paypal-100-cryptocurrencies-accept-merchants-bitcoin-ethereum/
I concur and add βveryβ shitty.
Does the merchant need to turn it on?
Good question ππ€·ββοΈ
"PayPal currently limits this new crypto checkout feature to select merchants, the company has plans to broaden access to large enterprises in both the U.S. and international markets.
However, it has not provided a specific timeline for this global rollout." Yahoo Finance