John Rainey, Paypal’s CFO claimed that Paypal did not see a lot of interest for its merchants regarding cryptocurrency acceptance.
Paypal CFO told Mad Money host of CNBC:
Because of the volatility of the cryptocurrencies, if you’re a merchant and you have, let’s say, a 10 percent margin on a product that you sell and you accept Bitcoin, for example, and the very next day it moves 15 percent, you’re now underwater on that transaction.
Rainey also told that Paypal will surely accept bitcoin if need.
Right now, we don’t see a lot of interest from our merchants. But if it’s something that stabilizes in the future and is a better currency, then we’ll certainly support that.