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More Innovation from Paypal

When it comes to using a payment method at an online casino, PayPal is becoming increasingly popular. That’s not surprising at all because the service they provide just keeps on getting better.

Recent months have seen two big announcements by the company. Firstly, there was the news about a better service when it comes to using cryptocurrencies at PayPal.  That has been followed by the arrival of PayPal Monthly. You can bet their millions of users will have been delighted to learn of both of these developments.

Let’s look at PayPal Pay Monthly first. This is their new buy now but pay later feature and is issued by WebBank. It’s great news for American consumers as it gives them the chance to spread their payments rather than making them all in one go. That’s always good news and even more appreciated at a time when the cost of living is rising.

PayPal Pay Monthly offers greater flexibility and there is now even more choice when it comes to how to pay for items. Affording a major purchase isn’t easy and that was illustrated in a recent survey.

It found that 65% of Americans were currently saving towards making a big purchase. Not an easy task and further illustrated by the fact 79% were looking at working out a budget to be able to afford that purchase. Making payments in stages can be very helpful in this situation.

With PayPal Monthly, customers can make purchases between $199 and $10,000 but pay over a period between six and 24 months. When a purchase is made, the initial payment isn’t until a month after it has been made. The odds of anyone complaining about that are pretty high.

It’s an easy process to go through. All that’s required is to fill in an application form when going to checkout. Three different plans will be offered with a variation in how long to make your payments. There is a risk-based APR and this is in the 0% to 29.99% range and understandably, credit approval is required.  You can bet that there being no late fees to pay will also be appreciated.

PayPal’s Vice President of Shopping and Pay Later is Greg Lisiewski. He believes that “how consumers look to pay for larger purchases is evolving.” This therefore leads to a demand for flexible payment options.” They already had a pay later offering and a staggering 22 million people used that in the past year.

PayPal has become such an important global company. It can be used in so many ways and that includes as a payment method at online casinos. The fact that swift transactions can take place, especially with withdrawals is excellent.

There’s also a distinct lack of personal information supplied, making it safer to use than cards. “An increasing number of casinos now accept Paypal as one of the most secure, innovative and fastest payment methods and it is especialy helpful for the gamblers in the UK and other countries”, said a spokesperson of the British Gambler, a website covering casino industry, and referred to this list of gambling sites offering Paypal to their players.

Now we look at the latest news about PayPal and cryptocurrencies. June 7 was an important day for those who use cryptocurrencies for financial transactions. That was when the news broke that PayPal “supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges.”

A press release from PayPal said this happening was near the top of the list in requests from their customers. They’d been receiving that request since they began offering the ability to purchase cryptocurrencies.

US customers will be delighted with this news. They will now be able to transfer supported coins into PayPal. Then they can be moved away from PayPal to external crypto addresses. It’s now possible to send cryptocurrencies to family and friends. As is the case with PayPal, the transactions will take just a few seconds to complete. If any fees are charged, they won’t have come from PayPal.

The cryptocurrencies that can be used are Bitcoin, Ethereum, Litecoin and Bitcoin Cash. PayPal sees this development as a way for their customers to “interact with the broader crypto ecosystem.” They have a desire to evolve their best-in-class platform.

More good news is that customers will be able to spend cryptocurrencies when getting to the PayPal checkout. This will see them able to use millions of merchants around the globe.

PayPal also now has a full Bitlicense. They were granted this by the New York Department of Financial Services. PayPal loves to be the first to achieve something. That’s the case here as they are the first company who have been given a conditional Bitlicense and see it converted into a full one.

These are two important announcements by PayPal. We can expect many more in the future because that’s how this company works. The fact they listen to their customers is great to see and the odds are that will be appreciated by their many users.