PayPal.me Introduced To Help Make Payments By Sharing Permanent Link
PayPal too now joins with Facebook, Snapchat and other platforms in allowing users send and receive payments by simply sharing a link.
Dubbed as PayPal.me, the service helps in creating a personalized link that can be sent to anyone to collect money. It is known as peer to peer payment method and people can link up their debit card accounts to digitally transfer money without the need of check or cash.
Even though PayPal had launched the peer to peer payments years ago, but the method was different then. Lately, in more than two years of duration, companies like Square, Snapchat and Facebook have facilitated the sending and receiving of money by just sharing a link. This has gathered interest and not, as earlier, email address was required on PayPal.
The permanent link of PayPal can be sent through email, text, or a messaging app to the receiver for getting the money.
In the US the transfer of money using the link is free if payee uses a bank account for it. A fee of 2.9% will be charged if the payment is made through credit card.
Square also introduced a similar feature earlier this year with payments app called Square Cash or $cashtag. This service allows service professionals and contractors in accepting funds through a personalized link.
Mobile payments have been lately seen growing and debit accounts payments represent the smallest piece in it. This is because people don’t like getting charged of a fee for transferring money to the debit account of someone. Hence, people prefer either check or cash to make the transfer.