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Paypal to Incorporate Cyber Currencies
PAYPAL PREPARING TO INCORPORATE CYBER CURRENCIES?
Payment processing giant has filed a patent application for a modular payment device that accepts bitcoin and other digital currencies.
It looks as if the online payment processing giant PayPal is about to incorporate cyber currencies into its system; the company has reportedly lodged a patent application with the U.S. Patent and Trademark Office that includes a lengthy description of how it manages virtual currencies, specifically naming bitcoin, Litecoin and Dogecoin.
The application’s abstract describes a modular payment system that includes a chassis which has a modular device connector. A payment database in the chassis stores funding source information and security information.
A payment module engine in the chassis determines that the modular device connector has been connected to a device frame, and it retrieves identifying information from the device. The module then determines that the identifying information matches an authorized device identified by the security information in the database and, in response, enables the transmission of the funding source information to conduct a transaction.
PayPal hinted at the integration of bitcoin as long ago as 2014, reports the publication Cryptocoin News, which notes that PayPal revealed in a SEC filing that its merchants could begin accepting bitcoin via integration with Braintree.
It also announced partnerships with Coinbase, BitPay and GoCoin. At the time, it released a video hinting at bitcoin integration.
Last November Bitwala, a cryptocurrency-to-SEPA payment service, announced it was allowing users to send bitcoin to PayPal Euro accounts.
In a further indication of PayPal interest in the sector, the payment processor announced earlier this year that it has appointed Wences Casares to its board of directors. Casares is the founder and CEO of bitcoin start up Xapo.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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