Is eBay adopting the Crypto-Payments?

CryptoCurrencies

The hottest of news from the crypto world is here, as the e-commerce giant is thinking to adopt cryptocurrency as a mode of payment. The whole world, Business-to-Consumer (B2C), and Consumer-to-Consumer (C2C) business models are going to be revolutionized when it happens. Let's get started with what will happen if it happens.

A Brief Background: eBay

eBay Inc. is an e-commerce giant and an American corporation based in San Jose, California, that facilitates consumer-to-consumer and business-to-consumer sales through its website. eBay was founded by Pierre Omidyar in 1995 and became a notable success story of the dot-com bubble.

Impact: eBay is deciding to go with Cryptocurrency payments

eBay CEO Jamie Iannone has said the online shopping platform was looking into new payment options for customers.

eBay CEO Jamie Iannone has said the online shopping platform was looking into new payment options for customers.
Currently, eBay has its businesses across 180 countries, so such a change when eBay will offer crypto as a payment option is a huge deal. It will have an instant impact over 180 countries and millions of people.

Secondly, it will not remain with eBay only as its competitors in the business will also try to jump in, and at the end of the day, it will be customers who will be paying in crypto to purchase some of the basic items via crypto, directly from the retailers.

A ray of hope, at the end of the tunnel, is upon us. That is when all the effort and awareness come into play to bring an idea into life.

eBay interacting with Crypto payments: Why now?

So it all started when the payment gateways laid down in actual payment mechanism to process crypto with their existing ongoing business of the rest of the fiat currencies.

Last month, PayPal launched “Checkout with Crypto.” This lets PayPal’s American customers pay with bitcoin (BTC), ether (ETH), bitcoin cash (BCH), and litecoin (LTC).

In March, Visa enabled the use of the USD Coin (USDC) stable coin to settle transactions on its payment network. Meanwhile, last week, Mastercard launched the first credit card offering digital currency “rewards” on purchases. This was done in partnership with the U.S. cryptocurrency exchange Gemini.

Conclusion

There is smoke, there is fire. This news is just not a piece of writing, but a thought leading to a bigger vision, which is already in the process of its implementation. The ball has been rolled, an idea has been generated.

Now it is a matter of time only when it is will be available for a whole world to pick and choose and enjoy the benefits of cryptocurrencies, which we all have been talking about for a long.

News Source: finance.yahoo.com