PayPal Launches PayPal.me, a New Digital Payment Service
With its newfound freedom from eBay, PayPal is already making significant strides in consumer-friendly payment solutions. Its latest development is PayPal.me, which allows quick and easy person-to-person money transfers.
The new product is inspired by Venmo, which PayPal acquired last year, but it is made to bridge the gap between PayPal’s somewhat antiquated technology and Venmo’s emoji-ridden app for Millennials.
With PayPal.me, every user has their own personalized link, which they can send to friends, family members and customers through a text, email or Tweet. The recipient can then use the link to send money. There are no complicated logins like you might find on PayPal’s main website, so users can get through the transaction as quickly as possible.
One of the biggest issues with Venmo is the number of notifications sent about an incoming request. PayPal.me is set up for a slightly older audience that does not rely on consistent text messages and emails to remind them to make a payment. Users can complete the payment request outside of the mobile app just by texting a response.
The recipient of the charge must know the nature of the request (rent money, purchase, loan, etc.), unless the sender opts to share a link with an amount attached to the end. Signing up for a PayPal.me account is completely free, and could become a new way for audiences of all ages to send and request money.