By Ollie H - Cryptocurrency Broker - 30-07-2021
One of the largest global payment companies, PayPal, wants British consumers to invest in cryptocurrency through its soon-to-be-released "super app."
PayPal intends to expand its crypto trading services to the British market "even in the next month." Reportedly, the company did exceptionally well with its new crypto features during the first half of the year.
It's reported that the global payment platform is introducing "incremental functionality" to the crypto trading platform within the "super app" when it's made available to the public. This comes following the announcement on July 15 that PayPal has boosted the spending price for crypto purchasing, with new spending limits of $100,000 per week.
As stated by the CEO of PayPal, Dan Schulman, the company is also working to provide an open banking application. The open banking feature integration will help provide faster payments through an ACH. The Automated Clearing House (ACH) is a payment service provided by PayPal that allows sellers to collect and receive payments online from customers quickly and efficiently. Merchants can receive the costs by debiting the customers checking accounts.
As of this week, it was reported in an article on Cointelegraph that the long-awaited "super app" on the PayPal platform will have- a high yield saving feature, consumer access to direct deposit funding, and further developed crypto features. Reportedly, the super app will be available soon as it's rumoured to be near ready for launch.
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