On 15th September 2021, Adobe disclosed that it would partner with PayPal to develop an impeccable cryptocurrency service and online payments solution.
In today’s ever-changing technology, many businesses have adopted seamless and effortless transaction solutions to provide their customers with exceptional online experiences.
Good news for Adobe merchants
Adobe merchants can now integrate their online payments and cryptocurrency transactions through a strong and secure platform without the involvement of third-party service providers.
This partnership creates a manifesto where customers can transact easily through Adobe Commerce. The benefits of the Adobe-PayPal partnership to its merchants include:
- Readily accessible payments and transactions solutions. Through this partnership, Adobe merchants can now buy, hold or sell four types of cryptocurrencies, including Bitcoin, Bitcoin cash, Ethereum, and Litecoin.
- Adobe merchants will have access to PayPal’s buy now and pay later solutions.
- Adobe merchants will now have access to updated and secure cryptocurrency and online payment services. With no third-party payment providers, you are sure that your transactions are safe, confidential, and modern. All transactions will be readily accessible through Adobe Commerce.
- Adobe merchants will have access to ultra-modern financial reporting. The partnership will see an extensive and transparent reporting of all cryptocurrency transactions and online payments-from processed orders, payments, balances to transaction levels. With a clear view of their transactions, the Adobe merchants will now easily process their financial reconciliations.
Though customers can buy, hold, or sell their cryptocurrencies through PayPal’s website or mobile app, there are transaction fees and currency conversion rates that are applicable.
Two solid companies
Both PayPal and Adobe were featured in Investors Business Daily (IBD) leaderboard due to their established record of steady growth in earnings. This move will bring out mixed reactions in the industry. And it may also affect their stocks. Only time will tell if there will be a sustainable, long-term surge. `
Merchants are looking for alternative platforms that have seamless commerce solutions. This led Adobe to become flexible and partner with one of the leading online payment platforms, PayPal, for its cryptocurrency transactions and online payments.
It’s a great development in the cryptocurrency industry. A partnership of two previously non-crypto financial giants was a distant dream a few years ago. It will be good to see which other major players will partner next to move the industry to the next level.
One thing’s for sure, though:
As volatile as the cryptocurrency industry is, we can be sure it’s here to stay!
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