MetaMask opens up purchases with PayPal for U.S. users; Mastercard and Visa's digital payment layout in full view

According to the official blog, cryptocurrency wallet provider MetaMask has partnered with digital payment leader PayPal to integrate PayPal's digital payment technology into MetaMask, allowing users in the United States (excluding Hawaii) to choose PayPal as a payment method to purchase cryptocurrencies such as ETH. The purchased cryptocurrencies will be converted and deducted from their wallet balance or linked bank account. The service even supports transferring ETH from PayPal to MetaMask.

Counting the Layout of Two Payment Giants in Crypto Payments

As a payment pioneer with a keen interest in blockchain technology, Visa is committed to investments in the crypto field. Its ambition to expand the crypto industry landscape is evident through collaborations with over 65 crypto wallets, issuing crypto-linked cards, and conducting spending and settlements with the stablecoin USDC.

In addition to announcing a long-term partnership with crypto payment app Wirex in February to introduce more payment options for consumers in the Asia-Pacific region, Visa publicly recruited in April, signaling its entry into crypto currency products such as public chains and stablecoin payments. Recently, Cuy Sheffield, head of its crypto team, also published a research report on Ethereum economic applications, focusing on utilizing account abstraction for automated payments to provide online bill payment features for self-custodial wallets.

In September 2022, Visa conducted a survey and analysis on crypto currencies and trends in the Asia-Pacific region in its Consumer Payment Attitudes Report.

On the other hand, another payment giant, Mastercard, provides consultations and education to governments and banks to accelerate the development of innovative payments in traditional finance and assist in formulating crypto-related strategies. Mastercard also partners with blockchain infrastructure Paxos to provide services such as custody of crypto assets, security monitoring, cross-border spending, and crypto application management for fintech companies.

It is worth mentioning that while Visa focuses on application development, Mastercard concentrates on building and ensuring societal trust in the crypto ecosystem, striving to help the crypto economy develop under the current trust level of traditional payment methods. It offers security products including global identity verification systems and risk monitoring equipment to help prevent fraudulent crypto activities.