Why hasn’t PayPal introduced its own virtual currency?
Payments
Asked by Question Bot04/Apr/20141 answer
1 Answer
F
Faisal Khan
Answered 04/Apr/2014
Interesting question. Here is my viewpoint.
In the global scheme of payments, PayPal is dwarfed by others (think VISA, Mastercard, AliPay, etc.) if there is a chance someone would create a virtual currency, I personally think it would not be PayPal (their disruptive edge has faded). As Vish Shastry has rightly said I don't think PayPal is threatened by Bitcoins (yet!).
If PayPal were to create their own currency (assuming they take care of all the issues of the regulatory framework they have to operate within), PayPal's traction can come in very handy then. They certainly have the most influencing user base. The virtual currency could very quickly come to dominate the scheme of things, if it were to be launched.
PayPal currently doesn't see a need to create their own virtual currency, they may start integrating with Bitcoins at some point in time (if Bitcoins become mainstream), but I'm not holding my breath on that. They have been very resilient to integrating with other payment instruments other than the Banks and the card associations.
In the global scheme of payments, PayPal is dwarfed by others (think VISA, Mastercard, AliPay, etc.) if there is a chance someone would create a virtual currency, I personally think it would not be PayPal (their disruptive edge has faded). As Vish Shastry has rightly said I don't think PayPal is threatened by Bitcoins (yet!).
If PayPal were to create their own currency (assuming they take care of all the issues of the regulatory framework they have to operate within), PayPal's traction can come in very handy then. They certainly have the most influencing user base. The virtual currency could very quickly come to dominate the scheme of things, if it were to be launched.
PayPal currently doesn't see a need to create their own virtual currency, they may start integrating with Bitcoins at some point in time (if Bitcoins become mainstream), but I'm not holding my breath on that. They have been very resilient to integrating with other payment instruments other than the Banks and the card associations.