Users of PayPal now have the ability to send payments and make requests by simply sharing links with others.
PayPal Expands Digital Payment Solutions with PayPal Links and PayPal World
PayPal, the global digital payments giant, has announced plans to expand its peer-to-peer (P2P) payments platform with the introduction of two new solutions: PayPal Links and PayPal World.
PayPal Links, currently limited to U.S. users but set to expand into the UK, Italy, and other markets later this month, enables users to send payment links via text message, email, or direct message. This feature allows for easy and convenient P2P transactions, with recipients accepting the payment and the funds transferred instantly to their PayPal account. Users can generate a private, one-time link for a transaction within the app, enter a payment or request amount, and add a note before sharing the link. A notable feature of PayPal Links is that senders can cancel any requests before they are claimed, and unclaimed links automatically expire after 10 days.
In a move to address the challenges of cross-border payments, PayPal World is a separate solution from PayPal Links. This platform connects PayPal and Venmo wallets with global wallets like India's Unified Payment Interface (UPI), China's WeChat Pay, and potentially Latin America's Mercado Pago. PayPal World aims to solve persistent challenges in cross-border payments, making global transactions more seamless and accessible.
Diego Scotti, General Manager, Consumer Group at PayPal, emphasized the potential synergy between PayPal Links and PayPal World. He stated, "PayPal Links and PayPal World are part of PayPal's ongoing focus on expanding its P2P payments platform, providing users with a more connected and convenient digital payments experience."
PayPal has also ramped up its focus on digital assets in recent years. The company launched its stablecoin, PYUSD, two years ago, and has now introduced its Pay with Crypto service. This platform is designed to connect PayPal's ecosystem with existing crypto wallets from major platforms like Coinbase Wallet, MetaMask, Kraken, and OKX. With Pay with Crypto, users can send crypto payments, including bitcoin and Ethereum, to PayPal and Venmo, as well as other compatible digital wallets.
The aim of PayPal with the Links launch is to attract more customers to its ecosystem. By offering a more connected and convenient digital payments experience, PayPal hopes to appeal to a wider audience and continue its growth in the digital payments market.
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