eBay likely to integrate Bitcoin into Paypal, says CEO
According to reports, eBay- the multinational Internet consumer-to-consumer Corporation is considering to integrate bitcoin into PayPal
WASHINGTON (Scrap Monster): According to reports, eBay- the multinational Internet consumer-to-consumer Corporation is considering to integrate bitcoin into PayPal. The announcement was made by John Donahoe, CEO,eBay at the annual shareholder meeting.
'We think bitcoin will play a very important role in the future. Exactly how that plays out, and how we can best take advantage of it and enable it with PayPal, that's something we're actively considering. It's on our radar screen.', said Donahoe.
The statement made by the CEO indicates the change in the company’s attitude towards Bitcoin. Earlier, the company had considered bitcoins as a potential threat to PayPal. The shift in attitude by eBay may result in a huge number of online payment companies to follow suit.
The global commerce and payments leader reported 14% increase in its revenue to $4.3 billion over the corresponding quarter last year. The commerce volumes were up 24%. The PayPal total net payment volume grew 27%.
San Jose,CA headquartered eBay Inc. manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide. The website has since expanded to include shopping, online classified advertisements and online money transfers via PayPal.