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4 Crypto Payment Providers Giving Paypal's Venmo A Run For Its Money

April 20, 2021 4:23 pm
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4 Crypto Payment Providers Giving Paypal's Venmo A Run For Its Money

Late last year Paypal had good news for crypto users with their new "Checkout with Crypto", which would allow any PayPal account holder to buy, and sell products across thousands of merchants using their digital currencies. This was announced to fanfare and had the positive effect of helping boost the price of the related cryptocurrencies.

This was especially good news for those eager to see cryptos move closer to a state of mass adoption. At that time PayPal had over 346 million active accounts. This did however come with some drawbacks. Merchants would receive their payments in fiat currency. For the users, they would not be able to buy cryptos on the platform and those users with third-party crypto wallets could not move their holdings from those wallets into their Paypal account.

That is where the market opened up for competitors of Paypal, who could not only offer transactional payments but could also offer users the ability to transfer from external wallets, to buy cryptos on their platforms, and to pay merchants directly in crypto and sometimes to give users more than they had bargained for.

Step up the leading payment provider solutions that have stepped into the fray:

Mobie
The Mobie ecosystem promises an overall system of easy and fast on and off-ramp payments that would also reward users for their everyday spending. Mobie has proven to be one of the most innovative and immersive gateways for payments, including gaming. Mobie is safe and secure and does not necessitate its users to provide any banking details, with no need for debit or credit cards.

The Mobie ecosystem offers a variety of possibilities for personal and business use. There's a secure and instant payment system, an rewards incentivizing program and reduced cost of transaction fees. On top of that, Mobie makes it easy to donate to charity with up to 6% of purchases.

Join the Mobie waitlist to participate in the early access to their beta.

CoinZoom
CoinZoom allows users to not only buy, sell and spend bitcoin, it also allows them to get CoinZoom global debit cards to easily spend their fiat and crypto balances at over 53 million merchants. CoinZoom has a number of products in its arsenal which include international cards that facilitate users to buy cryptos in an anonymous fashion as well as enabling them to convert their crypto back into fiat and to buy goods and services anywhere that Visa cards are accepted.

Perhaps, the jewel in its crown though is the ZoomMe international peer-to-peer fiat or money transfer feature which is completely and utterly free. That should give Paypal a run for its money.

Public Mint
With Public Mint you can get access to some of the best DeFi opportunities out there and you don’t need a bank account to do so. With Public Mint you don't necessarily need to transfer your money onto the blockchain. Public Mint will give you a synthetic currency, USD+ which is a means of payment on its own right now and it can be transferred between users and holders to earn revenue, while also being suitable for payments.

Anyone that needs to pay bills or invoices at scale can use Public Mint to make their transactions with very low fees almost instantly. You can use Public Mint instead of a bank account to save your money, top up your account and pay or send money instantly to anyone in the world, with the security of a blockchain.

Skrill
Skrill, a subsidiary of Paysafe, a popular payment platform that is listed on the NYSE, has increased its crypto offering to U.S. clients by teaming up with Coinbase, the digital exchange that is just about to go public on the NASDAQ exchange. Skrill will use Coinbase's white-label solution to give clients access to buy and sell popular cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Skrill users can exchange their Bitcoins for other cryptos and are promised fast, convenient transactions without the need for users to exchange back to fiat.

Skrill enables its users to exchange 40 fiat currencies into Bitcoin and back, instantly, securely, and with pretty decent fees. Skrill, which was formerly known as MoneyBookers, is already well known in the remittance space.


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