PayPal Steals Apple’s Thunder: “We Can Spend Bitcoin With a Tap!”

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In a surprise video posted to the official PayPal Youtube media channel, Paypal Voices presented what, at first, is a confusing video. Early on in the video, you’ll hear phrases that you might not have ever expected to hear from PayPal in this century. Phrases such as “We can spend Bitcoin with a tap…” Though PayPal’s mobile apps haven’t yet been updated to include any sort of Bitcoin functionality, the release of this video is creating a predictable media storm. Paypal’s release of this video on Monday the 8th of September has everything to do with Apple’s hyped release set for Tuesday the 9th of September.

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You can see the video for yourself right here:

https://www.youtube.com/watch?v=pF7HxLCFMeY&feature=youtu.be&t=8s

PayPal Video Transcript

We are the people who have built a whole new place to live, dream, and be.
We employ ourselves and vote with our money.
Our phone is our wallet.
We can spend Bitcoin with a tap, without a pocket.
We can buy and sell and rent and send a twenty to a friend.
From the coffee bar to the share car, we are unstoppable with our thumbs.
Just one touch to buy just about anything, no need for filling billing info time after time or remember password rhymes to get that dress, a cabin, a concert ticket.
We live on all devices, and are as mobile as nature intended.
No need to send any details or data, not even when we pay each other.
We have magical money, not bound by bank or bill.
It is instant simple, and secure enough to get out of the way: Consider yourself invited to the “People Economy.”

What is Apple’s Thunder?

apple and bitcoinOver the last few weeks, rumors about Apple’s 9th of September release have been spreading like wildfire. According to a private individual close to the deals, Apple has reportedly signed major deals with credit card companies such as VISA, Mastercard, and American Express. Combine that with leaked schematics of the iPhone 6 that include an NFC chip, and we have clear signs that the “iWallet” is coming. As I predicted when previously writing about this topic, Apple’s iWallet is unlikely to feature Bitcoin in any way shape or form. However, I would love to be proven wrong tomorrow. Apple’s move is big enough without adding Bitcoin to the mix: A new phone, a new tablet, a new App that will supposedly change the world: Apple has their big day all planned out. PayPal’s move might change that though. While Apple’s new product is still a mystery, PayPal’s future use of Bitcoin is now imminent. PayPal let Apple spend all the money to create all the mobile wallet “killer-app” hype in the mainstream media and the Bitcoin media in recent weeks and then stepped in to reap the benefits. While it is still unclear whether or not the general population will notice PayPal’s video over all the other Monday news hubbub, Bitcoin users around the world now have some simple confirmation that they are on the right track.

 

Braintree Accepts Bitcoin

Braintree, eBay’s payment subsidiary, will accept Bitcoin thanks to a newly announced partnership with Coinbase. Through something called “Paypal One Touch Integration” Braintree will allow merchants to accept Bitcoin via the Braintree Ignition program. Braintree currently offers free processing for the first $50,000 in transactions for any new merchant for non-Bitcoin payment processing. For merchants using Braintree to accept Bitcoin, the first 1 million USD in payments will be transacted for free, just like Coinbase allows every other customer. Braintree’s offering to all of their merchants truly highlights Bitcoin’s superiority: 1 million USD of free processing trumps 50,000 USD any day.

Featured image from Shutterstock.

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