As the next step in its peer-to-peer (P2P) payments platform, PayPal is launching a feature that enables users to send payment links via text message, email, or direct message.
Within the app, the Links feature lets users enter a payment or request amount and generate a private, one-time link for the transaction. The sender can also add a note before sharing the link through their preferred channel, including chats.
Once the recipient accepts the payment, funds are transferred instantly to their PayPal account. Senders can cancel any requests before they are claimed, and unclaimed links automatically expire after 10 days.
With the Links launch, the fintech aims to attract more customers to its ecosystem.
Increasing Its Focus
Another significant aspect of PayPal Links is that U.S. users will be able to send crypto payments—including bitcoin, and Ethereum—to PayPal and Venmo, as well as other compatible digital wallets. Payments can also be sent using PayPal’s stablecoin, PYUSD, which the company launched two years ago.
Like many of its rivals, PayPal has ramped up its focus on digital assets in recent years. In addition to launching its stablecoin, it also recently introduced its Pay with Crypto service, a platform designed to connect PayPal’s ecosystem with existing crypto wallets from major platforms like Coinbase Wallet, MetaMask, Kraken, and OKX.
The Potential Synergy
One of main drivers behind Pay with Crypto was the need to solve persistent challenges in cross-border payments. To serve the same market, PayPal also launched its own solution: PayPal World.
Through this platform, PayPal and Venmo wallets can connect with global wallets, including India’s Unified Payment Interface (UPI), China’s WeChat Pay, and potentially Latin America’s Mercado Pago.
Although not all of PayPal’s systems are fully integrated yet, Diego Scotti, General Manager, Consumer Group at PayPal underscored the potential synergy between PayPal Links and PayPal World, noting that users could easily share a payment link in conversations with anyone worldwide.
At present, PayPal Links is limited to U.S. users, but the company plans to expand into the UK, Italy, and other markets later this month.
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