Peer-to-peer payments services are becoming quite popular, and many different apps have integrated a way for you or others to receive quick payments from users. Apps like Groupme, Snapchat, and Facebook’s Messenger app for example all have a peer-to-peer payment feature built in so others can send money painlessly and quickly to other users. Now PayPal is entering this space by introducing their recently announced PayPal.Me service. It’s fast, it’s easy to use since it works with your already existing PayPal account and you can pay people or get paid from people across the globe just like you could by sending money straight to someone’s PayPal account through the actual PayPal app.
The niche of using something like PayPal.Me is that the money comes in quicker and can be used for various purposes whether it’s to gently nudge someone to pay you back for something, or to split a check for a night out. PayPal helps you create an easy PayPal.Me link which you can personalize and send to anyone through pretty much any means available including text, social media, email etc.. Anywhere you can post the link, people can see it, click it, and send money to your PayPal account in just seconds according to PayPal. By “naming your money” and adding a picture to PayPal.Me account, people can easily see who it is they’re sending money to (you can add a name to end of the link, I.E. /Justin). PayPal also makes it easy to select what currency you want to send money in before sending the amount.
People will need to have a PayPal account before they can send money to you, so if you’re sending a link to someone that doesn’t have one PayPal makes it easy to help them set one up. When creating your own PayPal.Me link you can also choose to set it up as either a personal or a business link depending on what you’ll be requesting money for. If you’re going to be using it to get paid by customers for goods and services rendered for example, you can set up your link to appear as a business payment with the company name to alert the user what they’re paying for. PayPal’s goal is to eliminate the awkwardness in asking people to pay you back for stuff or go halves on a bill. Simply send the link and be done with it. PayPal has opened up the service in 18 different regions so far including the US, the UK, Germany, Austria, Canada, Russia, Turkey, France, Italy, Spain, Poland, Sweden, Belgium, Norway, Denmark, the Netherlands, Switzerland, and Australia.