A PayPal clip on Youtube, posted yesterday, apparently indicates that the payment processor is at peace with Bitcoin.
Branded “A People Economy, Now More Powerful than Ever”, a chorus of people chants the merits of a revolutionary way of making all sorts of payments.
It coincides with their subsidiary Braintree’s recent announcement to launch one-touch and Bitcoin payments, although the clip doesn’t mention this explicitly.
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10 seconds in, the chorus says:
“Our phone is our wallet. We can spend Bitcoin with a tap without a pocket.”
Bitcoin had previously been touted as a threat to PayPal’s business, but a series of developments over the past 6 months have indicated that the payment processor and their parent, eBay, are warming up to working with the cryptocurrency. This comes a long way from reports of them censoring Bitcoin-related sales earlier this year.
Understandably, the clip has generated much excitement in the community, with a reddit thread currently at 672 comments.