PayPal begins partnership with bitcoin payment processors

PayPal, eBay’s payment service, will partner with three bitcoin payment processors. These are BitPay, Coinbase and GoCoin. Sellers of digital goods can build in support for those bitcoin payment processors through PayPal.

PayPal emphasizes that it is not introducing support for the bitcoin itself, and furthermore, the partnership with the bitcoin payment processors only applies to digital goods. Providers of digital goods must also choose to accept bitcoin payments themselves, and this is currently only possible in North America.

PayPal has chosen BitPay, Coinbase and GoCoin because those companies would offer enough guarantees for customers. The payment service says to be careful with bitcoin; the company says it will embrace innovations, but only if they ‘make payments safer and more reliable for customers’. Earlier this month, PayPal, in partnership with CoinBase, introduced support for bitcoins in its SDK.