March 3, 2024
PayPal launches PYUSD stablecoin for payments and transfers


PayPal announced today that users can now add their PayPal and Venmo credit or debit cards to their Apple Wallet. With this new integration, you can now make payments in-store, online or on apps using Apple Pay. The company notes that users will continue earning their cashback and rewards.

You can get started by opening up the Apple Wallet app and selecting the “add debit or credit card” option. Next, you can either scan your PayPal or Venmo credit or debit card or enter the card details manually.

For now, you have to add your cards through the Apple Wallet app, but PayPal notes that users will be able to do so directly in the PayPal or Venmo apps in the coming months. The company also says that users will be able to use a PayPal Business Debit Card with Apple Pay in the coming months.

Once you have added a card, you can make an in-store purchase by using Apple Pay, which can be enabled by double-clicking the side button, authenticating with Face ID or Touch ID, and then holding your iPhone or Apple Watch near a reader. When making online or in-app purchases, you need to head to the checkout page and tap the Apple Pay button.

The new integration comes two weeks after PayPal announced that PYUSD, its stablecoin for payments and transfers, is now available on Venmo. PYUSD, which launched last month, is issued by Paxos Trust Company and is backed by U.S. dollar deposits, short-term U.S. Treasuries and similar cash equivalents.



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