MoonPay and PayPal enter the EU and UK

Thursday 13 June 2024 11:43 CET | News

US-based crypto payments firm MoonPay has expanded its collaboration with PayPal to 24 EU member states and the UK, allowing users to buy crypto via PayPal. 

Following the recent integration of their services in the US, MoonPay has announced that users located in 24 EU member states and the UK can now acquire cryptocurrencies through their PayPal account. The decision to launch in Europe was based on the success of the US introduction, which, at the time of the announcement, was rolled out to 100% of users and demonstrated the increased demand for PayPal as a payment option to buy crypto. MoonPay highlighted several results from the US launch, including the expanded popularity of PayPal as a payment method, increased engagement and conversion, as well as a new demographics.

MoonPay has expanded its collaboration with PayPal to 24 EU member states and the UK, allowing users to buy crypto via PayPal.

MoonPay and PayPal’s collaboration capabilities

According to MoonPay’s officials, the expansion of their company’s partnership with PayPal to additional markets supports its development strategy, with the move allowing it to offer a simplified and efficient experience for customers. Moreover, it is set to mitigate the gaps to entry to include new users globally, delivering increased convenience to MoonPay’s customer base. The integration aims to simplify transactions for the firm’s users that have preexisting PayPal accounts, with customers being able to fund their cryptocurrency purchases by leveraging their PayPal Balance, direct bank withdrawal, or debit card. The collaboration removes the need for entering the required details manually, thus making the process more efficient.

Furthermore, MoonPay has been working on expanding the PayPal integration to its partners, already being live with Uniswap, Phantom, BitPay, Changelly, xPortal, Zengo, SafePal, and LOBSTR. At the time of the announcement, PayPal is available to 1% of MoonPay customers in the UK and EU, except for Croatia, Hungary, and Iceland, with plans to be introduced in the upcoming period.

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Keywords: crypto, cryptocurrency, online payments, expansion, partnership, payment methods
Categories: Payments & Commerce
Companies: MoonPay, PayPal
Countries: Europe, United Kingdom
This article is part of category

Payments & Commerce




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