The second policy change was in regard to international payments, the company also makes money in this type of transactions by charging a flat fee. But due to the recent changes in terms and conditions, Paypal has announced that it will now charge a variable fee of five percent. This intentional transaction fee will be capped at a maximum of $4.99 and a minimum of 99c. This many have warned will disproportionately affect people who send a lower amount of money with 5 percent and sometimes even higher fee, while big transaction will enjoy a fixed fee of 5 dollars. What is the reason behind such a move is unknown.
These could drive people towards crypto as there is no fee for international transactions while using crypto, and as it can be spent anywhere in the world. Also, there is no middle man in crypto, hence it could eliminate fees that are charged for fund transfer. But we always have to remember that in order for a new technology to replace already existing technology, it is not just enough to be as good as the existing technology or slightly better but has to offer a substantial improvement in order to attract users. Also one of the points of conflict in the new policy of Paypal is the refund. While it is true that it is unfair there is no option for a refund at all when one is using crypto. It is true that such policies by existing companies can push for adoption of crypto upwards. This recent policy by Paypal is not going to be that significant but rather goes to show people why it would be a good idea to think about adopting crypto.
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