Ebay may begin accepting Bitcoin payments via its Braintree platform
Several large and notable companies have started accepting Bitcoin in recent months including Dell, Dish, Expedia, and Overstock. But the crypto-currency may be on the verge of snagging its biggest supporter yet: eBay.
The online commerce giant is reportedly in talks with Bitcoin transaction providers to allow Bitcoin payments on eBay-owned payment processor Braintree, according to The Wall Street Journal. Yes, in the coming months you may be able to pay for your Github subscription and Uber rides via Bitcoin.
Braintree, which eBay acquired last fall for $800 million, is the payment provider for many online companies, including Github and Uber, as well as Airbnb, Basecamp, Hotel Tonight, OpenTable, Stack Overflow, and Task Rabit.
It’s not clear which company Braintree might tap to handle its Bitcoin payments, but one firm under consideration is Coinbase, the Journal says. Coinbase clients include Dell, Dish, Expedia, Overstock, and Reddit. Google also relies on Coinbase for its Bitcoin currency price listing on Google search.
Ebay’s flirtation with Bitcoin would be solely centered on Braintree, but over time Bitcoin could come to eBay.com and PayPal, the Journal says. However, there’s no word on when Bitcoin might actually come to Braintree.
Despite its shady and volatile past, Bitcoin is slowly seeping into mainstream Internet usage as more companies sign on to accept the crypto-currency. But government agencies are taking a far more cautious approach to Bitcoin even as the market seeks to embrace it.
On Monday, the U.S. Consumer Financial Protection Bureau issued a consumer advisory that warns consumers to be cautious about buying up Bitcoin. “Virtual currencies are not backed by any government or central bank,” the CFPB advisory said. “And at this point consumers are stepping into the Wild West when they engage in the market.”