BitCoin may be anathema to some providers but PayPal is going with the digital currency flow and looking to see how it can start accepting the controversial currency.
At the TechCrunch Disrupt event in San Francisco, PayPal launched its One Touch™ mobile payments. It is billed a "single touch payment experience" and is available on iOS but is only at public beta stage on Android. One Touch is developed by Braintree, the payments company bought over by eBay last year, which is known for providing backend services for services such as AirBnB.
One Touch to pay for everything
The appeal of the One Touch payment system is the ability to pay for things without user and password requirements. Simpler, perhaps, but a frightening possibility for those spendthrifts among us.
One Touch is also in beta mode with the social payments app Venmo. The One Touch rollout is expected on PayPal very soon, though there is no ETA as yet on when Bitcoin will be accepted on PayPal.
Braintree has signed a deal with BitCoin payment processor CoinBase to make BitCoin payments possible. Merchants who wish to accept BitCoin must then choose to integrate CoinBase into their payment platform to make the transactions work.
PayPal is likely thinking it you can't beat them, join them. After all, Apple is heavily eyeing the payment space with the buzz being a major mobile payments deal will be announced tonight along with the much-awaited iPhone and (perhaps?) iWatch.