In a recent article on The Next Web, Amanda Connolly (@tweets_amanda) shared that the virtual payment godfather, PayPal, has announced their new service PayPal.Me. This will allow you to create a personalized link that you can share with anyone via text or email. This may seem similar to the app, VenMo, which has been widely popular among millennials and their friends for small payments. For a long time PayPal was being overlooked by people looking to make easy payments to their friends, due to their lag time in payment processing.
So, what’s different about PayPal.Me?
- You can send your unique link to anyone, whether you’re an individual or a business
- You can create links for events, like office parties or honeyfunds
- Money will be deposited into your PayPal account immediately
- You don’t need to attach it to your social media, just a PayPal account
I personally use VenMo on a very regular basis, whether it’s for splitting a bill at a restaurant, or paying rent. PayPal’s new service is something I think will be very helpful when it comes to businesses or group fund-pools, but for day-to-day costs, I’ll stick with Venmo. But this is a great addition to their already established company.