The Super App offers fast, direct access to deposited funds. As well as messaging functions and some additional cryptographic features. PayPal customers can soon benefit from greater ease of use with cryptocurrencies. Notably, thanks to the company’s Super App wallet, for which the code has already been completed.
The new announcement at PayPal’s Q2 2021 investor conference call. During which the CEO of one of the largest payment networks confirms that the wallet is fully functional in the United States. This is one of many initiatives undertaken by the payment company. In particular, to integrate crypto into customers’ everyday transactions.
Key features of PayPal’s Super App
Driven by intelligent AI and machine learning technologies. This “full code” application is unique and equipped with superior capabilities. The wallet not only meets customers’ basic payment needs. But, it also helps them achieve greater savings from their transactions.
The Super App offers fast, direct access to deposited funds. It also offers messaging functions and additional cryptographic features.
PayPal’s growing influence in the cryptocurrency world
The company is on a path of steady progress. It integrates its current system of personal commercial transactions with cryptocurrencies. Only recently has the company increased the weekly cryptocurrency purchase limit from $20,000 to $100,000. While renewing the annual cryptocurrency purchase limit of $50000.
The company officially joined the cryptocurrency world in October 2020 when it offered its customers the opportunity to trade cryptocurrencies such as bitcoin, bitcoin cash, litecoin and ethereum. In other attempts to bring crypto into its fold, its in-house payment company Venmo introduced crypto in April and PayPal partnered with Coinbase, one of the largest crypto exchanges.
Currently, Paxos Trust Company is the custodian of all cryptocurrency transactions made on the payment platform. It converts customers’ cryptocurrency into fiat currency at the end of crypto transactions, enabling them to run smoothly. Such rapid adoption of crypto has already put PayPal at the forefront of a global revolution in digital payments.
PayPal’s activities
PayPal Holdings Inc (NASDAQ: PYPL) is a truly global online payment system. It operates in 200 countries/regions and supports 25 currencies. It registered an impressive 14.5 million new accounts in the second quarter of 2021, bringing the total number of active users to over 400 million. The company’s total payment volume amounted to $311 billion in the last quarter.
Unlike other payment methods, PayPal not only offers payment services and solutions for individuals, but also for businesses. In addition to retail purchases, it also functions as a platform for online and in-person transactions, business management solutions, as well as credit and financing options.
