Paypal today introduced PayPal links, a new way of sending and receiving money through a personalized, one -off link that can be shared in any conversation.
Paypal users in the US can begin to create personalized payment links today, with international expansion in the United Kingdom, Italy and other markets that start later this month. With the payment of this simple and universal, Paypal links help promote new customers and bring more users to the PayPal ecosystem.
The Peer-to-Peer (P2P) experience is going to go even further. Crypto will soon be incorporated immediately into PayPal’s new P2P P2P flow. This will make more convenient for Paypal users to the US to send bitcoin, Ethereum, Pyusd and much more to Paypal, Venmo, as well as a rapidly increasing number of digital wallets around the world that support cryptographs and stablecoins.
Expanding what people can do with PayPal also comes with reassurances about how personal payments are treated. As always, the transfers of friends and families through Venmo and Paypal are free from the 1099-K report. Users will not receive tax forms for gifts, refunds or division expenses, helping to ensure that personal payments remain personal.
“For 25 years, Paypal has revolutionized the way money is moving among people. Now, we are taking the next important step,” said Diego Scotti, General Manager, Consumer Group in Paypal. “Whether you send messages, messages or emails, now your money is following your conversations.
How do PayPal links work:
- Create a personalized link-Laying the PayPal app, enter your payment details or request, and create a unique link to share.
- Always the right person-every link is private, one-off use and was created for a specific transaction.
- Leave it anywhere – send your link to a text, DM, email or conversation. Add a note, emoji or payment note.
- Payment Activity Management: Silent links expire after 10 days. Users can send a reminder or even cancel the payment or request before the link is claimed with the PayPal application.
- Press and complete – the recipient puts the link and either completes or accepts the payment within the PayPal app with the PayPal account.
- The funds are instant – the recipient will have direct access to their funds with a PayPal balance account once accepted.
