Payment firm Paypal (PYPL) It is said that it has expanded the peer-to-peer service by increasing the cryptocurrency transfer to its payment flow, the company announced Monday.
Users in the US are about to send bitcoin Ether (Et). Monday of the press release.
Integration came alongside “PayPal Links,” a new tool that allows users to generate once personalized links to send or request money. Links can be dropped in text messages, chats or email, gem of payments in the day -to -day conversation.
Personal transfers between friends and family will remain exempt from IRS 1099-K tax reporting requirements, meaning gifts, payments and sharing costs will not develop tax forms even if the crypto is involved in the transaction, the firm said.
The company said the transition forms the “Paypal World,” the new interoperability initiative aimed at connecting the largest digital wallets and payment systems. Peer-to-peer payments are a major growth driver, with a consumer payment volume that climbs 10% in the second quarter-over-year. In July, the firm Says To expand crypto payments for US entrepreneurs as part of its deeper push for global digital money payment.
Read more: PayPal expands crypto payments for US traders to cut cross-border fees
