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Persian"While Bitcoin seems unlikely to challenge Visa, Mastercard, and PayPal in online acceptance, we recognize that a number of cryptocurrencies may be better designed for payment functionality, like Dash and Litecoin," James Faucette, a Morgan Stanley analyst, said in a note to clients
Bitcoin isnโt gaining traction among internet retailers as a method of payment, which is good news for the likes of PayPal Holdings (PYPL), Visa (V) and Mastercard (MA), says a Morgan Stanley survey.
Bitcoin adoption remained unchanged, as it was accepted at only four of the top 500 online merchants in the March quarter, the survey said.
โWhile Bitcoin seems unlikely to challenge Visa, Mastercard, and PayPal in online acceptance, we recognize that a number of cryptocurrencies may be better designed for payment functionality, like Dash and Litecoin,โ James Faucette, a Morgan Stanley analyst, said in a note to clients.
โAt this stage we have not observed any notable acceptance among larger merchants, with the exception of Overstock,โ Faucette went on to say.
79% For PayPal
PayPalโs online check-out option is used at 79% of the top 500 internet retailers, according to the Morgan Stanley survey. Amazon Pay at came in at 12%, Visa Checkout was 8% and Mastercard Pass at ended up with 7%.
PayPal added Williams-Sonoma in the March quarter. Amazon.com (AMZN) has been using its 1-click payment technology to attract merchants to its payments platform. If online shoppers log in to their Amazon accounts at third-party websites, 1-click speeds up the checkout process.
โWe expect PayPal to continue growing at or above the pace of e-commerce, and the network benefit of being a leader among merchants should continue to drive engagement higher,โ said the Morgan Stanley report.
PayPal stock rose 1.8% to close at 75.19 on the stock market today. PayPal is trading well below a technical buy point of 86.42.
Author: REINHARDT KRAUSE
Original link: https://www.investors.com/news/technology/bitcoin-not-winning-over-online-merchants-vs-paypal-amazon-visa/
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