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Wednesday 17 September 2014

Ebay in talks to take bitcoins at payments unit - report

Published 15/08/2014 | 07:21

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Ebay Inc's PayPal is in talks with Coinbase Inc and other bitcoin transaction providers to integrate the virtual currency within its Braintree payments system, The Wall Street Journal reported .

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Executives at PayPal, which owns the service that handles payments for startups from room-bookings network AirBnB to car-on-demand service Uber, have not struck any agreements, the Journal cited people familiar with the matter as saying.

A deal would be an endorsement for a crypto currency, which is gaining acceptance with a slowly growing number of businesses, including online retailer Overstock.com. But some industry executives have warned about the risks of an unregulated currency.

Ebay bought Braintree for $800m in 2013 to boost PayPal's mobile presence.

"We do believe that Bitcoin will play an important role in payments in the future, but we have nothing to announce," eBay spokeswoman Jennifer Hakes said.

Reuters

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