Paypal to start accepting Bitcoin?

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After a short Paypal video talking about mobile payment systems that briefly mentioned using Bitcoin for the aforementioned payment systems, Braintree has now confirmed the rumors of Bitcoin integration. Timing seems all too well if you consider that Apple also released their new iterations of products, including and Apple payment system.

Braintree is owned by Paypal, which also happens to be owned by eBay, so the possibility of finally using Bitcoin for eBay transactions may finally come true. Braintree also supports many other startups, one prominent startup being Uber, so the ability to catch a lift with Bitcoin may soon become a reality as well.

Braintree is accepting payments in Bitcoin via a partnership with Coinbase, which they posted on their own blog.

We’re happy to announce a new partnership with online and mobile payments platform Braintree that will enable its vast portfolio of merchants to begin seamlessly accepting bitcoin on any device. Developers at Coinbase and Braintree will be working together closely to complete the integration in the next few months.

Merchants only have to open a Coinbase account and link it to their Braintree account to start accepting Bitcoin. For merchants interested in knowing more they should check out Coinbase’s blog post regarding this matter.

For the rest of us, this is great news for the Bitcoin community. It is becoming more and more common for big companies to accept Bitcoin, as people change their mind about it. If this kind of adoption rate continues, imagine where we could be in another 5 years. I’m surprised that we are still sub $500 after the announcement of these news, I would have thought we would be above $500 by now.

Even though Braintree is supporting Apples new payment system that does not mean apple is accepting Bitcoin as a payment method for their system, which many people have confused. This is still good news, and the publicity that Bitcoin as gotten due through major news channels is huge.

For more information: Coinbase Blog

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