The Looming Existential Crisis for PayPal
Cryptocurrency might not be taking over the world. One thing it is doing is bringing in a new age of cheaper payments.
The digital world long has favored high transaction costs. The biggest of this is PayPal. This multi-billion dollar entity makes a fortune taking a little bit on each transaction. It also charges merchants a fee to have the service. Hence, PayPal collects on transactions, both large and small.
This could be coming to an end. Not only did Bitcoin present a new, low-fee system, others are following suit. This could spell doom for PayPal which is trading near an all-time high.
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