Today, a new set of Paypal policies are taking effect in the USA market; and by the nature of it, they could boost the use of alternative payment methods (as cryptocurrencies, among others) at least to make remittances and international payments.
The new policies are related to changes made to the actual Paypal user agreement contract and have to do mostly with the fees collected to do certain payments. About this, the new policies state that:
“We’re removing the variable rate pricing for sending money to friends and family members who have PayPal accounts in a country other than the United States when you send money using PayPal balance or your bank account and introducing a new flat fee of $2.99 or $4.99 per transaction depending on the recipient’s country. However, when you send money using your credit card, debit card, or PayPal credit you will be charged the new flat fee per transaction depending on the recipient’s country + 2.9% of the transaction amount + a fixed fee based on the currency.”
So, making remittances to certain countries would be more expensive than before. This will effectively cripple (or at least hinder) the use of Paypal as a remittance sender, and surely will give rise to other forms of sending money, being cryptocurrencies a solid choice for it.
But the changes do not end there: Paypal has also changed the conditions of individuals for sending money. From now on, only verified users will be able to send money and make payments. Unverified accounts (those accounts that have no credit card, bank account or SSN linked to it) would be unable to make purchases or send money to others. This would make impossible to make payments without turning in your ID info to Paypal.
All of these can impact positively adoption of cryptocurrencies in the marketplace, and as a quick and cheap way of sending remittances and making personal pays without giving your info to some third party. Granted, Paypal is a beast company with thousands of users on their platform, and a thing like this would not affect them quickly. But in the long run, it should be a significant change. The whole policy change article can be found here.