PayPal Modular Payment System Will Support Bitcoin
There are some indications pointing towards Paypal finally introducing official support for Bitcoin and other cryptocurrencies. Paypal has filed a patent for a modular payment system. Although it seems to indicate this will be a hardware device of some sort, there is also a mention of using a virtual currency wallet system. Every time a company files a patent for some new form of payment technology, there seems to a buzz of excitement in the air. In the case of PayPal, their patent application revolved around a modular payment system, which offers some interesting traits. The PayPal....
Related News
PayPal Inc. has filed a patent application for a modular payment device that accepts bitcoin and other digital currencies. The application, filed with the U.S. Patent & Trademark Office, includes a lengthy description of how it manages virtual currencies and it specifically names bitcoin, Litecoin and Dogecoin. The application also describes physical characteristics of the device, and it includes an image of the device. Modular Payment Module. The application’s abstract describes a modular payment module. The module includes a chassis which has a modular device connector. A payment....
Paypal says “yes” to digital currency; content creators may find themselves getting rich; and Russia is the world’s latest cyber-attack victim. Want to catch up on your digital currency news? Take a look below and see what you’ve been missing. PAYPAL. PayPal has filed a patent for a new device that will allow for the acceptance of digital currency. The e-payment network has long hinted at a possible relationship with bitcoin, but several weren’t sure if purchasing bitcoins through PayPal’s platform was as far as the relationship would go. Happily, this doesn’t seem to be the case. The....
The international payments processor PayPal has filed a patent application with the United States Patent and Trademark Office (USPTO) for a payment device that will be able to process cryptocurrencies including Bitcoin, Litecoin, and Dogecoin. Multi-funding source support. All in all, the device will support credit cards, PayPal accounts, and cryptocurrency wallets, with Bitcoin, Litecoin, and Dogecoin already confirmed. The patent application for the physical device was made on May 26th. According to Softpedia: “The device is made up of two main modules, a payment module engine and a....
Before people get too excited about the option to buy Bitcoin with Paypal in the near future, that option will not be enabled just yet. Exciting times are afoot in the Bitcoin world on a nearly daily basis. Coinbase, also known as GDAX these days, has added support for PayPal and credit cards to their platform. Buying and selling Bitcoin has never been easier or more convenient than it is right now. Before people get too excited about the option to buy Bitcoin with Paypal shortly, that option will not be enabled just yet. Coinbase makes it clear they will let users buy cryptocurrency with....
Peter Thiel, the notable entrepreneur and Silicon Valley venture capitalist who co-founded PayPal, has expressed his dissatisfaction with the current volume of bitcoin payments, saying a payment system to surround its technological base is "badly lacking". Thiel made the comments while participating in a Reddit AMA (ask-me-anything) earlier today, where several questioners asked his opinion on bitcoin and other digital currencies. He responded: "PayPal built a payment system but failed in its goal in creating a 'new world currency' (our slogan from back in 2000). Bitcoin seems to have....