PayPal Partnership Expands to EU, UK

MoonPay and PayPal partnership is now live to users across the European Union and United Kingdom, following a successful launch in the United States last month. MoonPay users in 24 EU member states and the UK can now buy cryptocurrency using their PayPal account. The U.S. launch, which has also now rolled out to 100% of users, demonstrated strong demand for PayPal as a payment option to buy crypto with impressive results:

• Popularity: PayPal has quickly become the third most popular payment method in the U.S., overtaking Google Pay, and only slightly behind cards and Apple Pay.
• Increased engagement: Nearly 90% of users who successfully connect to PayPal proceed with a transaction.
• Higher conversion: New customers using PayPal as their first payment method convert at a 1.3x higher rate than those using cards.
• New demographic: MoonPay’s integration with PayPal unlocks a more mature user base, with an average age of 35 years old.

“The success of our PayPal partnership speaks volumes about the value we’re creating together,” said Ivan Soto-Wright, MoonPay’s co-founder and CEO. “Expanding our collaboration to new markets is an incredibly exciting milestone for us. This move will enable us to provide a frictionless experience and lower the barriers to entry to include new users around the world, bringing convenience and trust to our growing customer base.” The integration simplifies transactions for MoonPay users with existing PayPal accounts. Users can fund their cryptocurrency purchases by using their PayPal Balance, direct bank withdrawal, or debit card—all without having to enter the required details manually. MoonPay has been rapidly expanding the PayPal integration to its many partners and is already live with Uniswap, Phantom, BitPay, Changelly, xPortal, Zengo, SafePal, and LOBSTR. PayPal is now available to 1% of MoonPay customers in the UK, and EU (with the exception of Croatia, Hungary, and Iceland), and will be rolled out over the next few weeks.