PayPal (NASDAQ: PYPL) was originally established worldwide as a trustworthy money exchange service thanks to security that it provides to its customers. Now the company has created PayPal.Me, a new service that will allow it to get more competitive against other similar services such as Square Cash. PayPal.Me is a new money exchange service between PayPal users for more direct payments through a simple URL.
With PayPal.Me all you have to do is share the appropriate link between the interested parties through a text message or an email on a blog or even a profile on social media. Then with a click on this link the money is automatically transferred from one PayPal account to the other with surprising ease.
The biggest advantage is that these links can also be more personal. For instance they can be something like “paypal.com/theusbport”, so that no one get confused with the money and where to send the amount.
The new service is particularly useful for those who work as individual partners -especially freelancers- and wish to receive a payment for a project that they have completed for clients who are geographically close enough. Another way PayPal is increasingly popular is within the casino industry making it easier for players to transfer money.
Cameron McLean, Managing Director, PayPal UK, says:
“PayPal’s person-to-person payment service has been used by millions of our customers for years. “The service evolved from the original idea behind PayPal, which was actually to let people beam money to each other using Palm Pilot personal organisers. With PayPal.Me you now have an even simpler, quicker and more convenient way of sending or requesting money between family and friends, whether at home or on the go.”
At the moment, PayPal.Me service is already available to the United States, the United Kingdom, Germany, Australia, Canada, Russia, Turkey, France, Italy, Spain, Poland, Sweden, Belgium, Norway, Denmark, Holland, Switzerland and Austria. It is almost certain that the service will expand, but we still await to see when and where.