Date
24 November 2017
EBay wants to integrate bitcoin into PayPal's Braintree payment system to bolster its mobile presence, according to reports. Photo: Bloomberg
EBay wants to integrate bitcoin into PayPal's Braintree payment system to bolster its mobile presence, according to reports. Photo: Bloomberg

Ebay eyes bitcoin for payment unit

PayPal, the international online payment service owned by Ebay, is in talks with Coinbase Inc. and other bitcoin transaction providers to integrate the virtual currency into its Braintree payment system, the Wall Street Journal reported Thursday.

Braintree handles payments for startups from room-bookings network AirBnB to car-on-demand service Uber.

A deal would be an endorsement for bitcoin, which is gaining acceptance with a slowly growing number of businesses, including online retailer Overstock.com.

However, some industry executives have warned about the risks of an unregulated currency.

Ebay bought Braintree for US$800 million in 2013 to boost PayPal’s mobile presence.

An eBay spokesman said the company believes bitcoin will play an important role in payments in the future but added it has nothing to announce.

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