PayPal home recently announced a partnership with several Bitcoin payment processors, including Atlanta’s very own BitPay. BitPay was founded in 2011 by Georgia Tech Alumni Anthony Gallippi and Stephen Pair, and allows businesses and consumers to conduct instantaneous transactions using Bitcoin.
- The PayPal partnership also includes Coinbase and GoCoin.
- Currently, the partnership will only allow merchants to accept Bitcoins for digital goods.
- For now, PayPal will not transact Bitcoins on its own platform or allow users to store the currency.
- The feature will initially be available to North American merchants exclusively.
- If the introduction phase goes well, the partnership will expand to offer the Bitcoin integration to all of PayPal’s ecommerce.
- The feature should be and up and running the next few weeks.