PayPal has launched a new peer-to-peer payment feature called PayPal Links, which aims to streamline the process of sending and requesting money among users. This innovative service, now available in the United States, will later expand to several other countries, including the UK and Italy, within the month.
With PayPal Links, users can generate a personalized, one-time link enabling them to easily send or request money. The option is designed to eliminate transaction fees, making it an attractive alternative to existing services like Zelle and CashApp. Sending money becomes as simple as sharing a link via text, email, or direct message. Users just need to open the PayPal app on their iOS or Android device, select the amount they wish to transact, and generate the link, which can then be shared in conversations.
Once the recipient clicks on the link, they can either send the specified amount or accept the payment, allowing immediate access to the funds, contingent upon both parties having a PayPal account. If the recipient does not have an account, they are prompted to create one.
To ensure privacy and security, each link is private and only valid for a single transaction, expiring after ten days if unclaimed. Users can even send reminders or cancel payments before the expiration. Notably, PayPal Links does not incur transaction fees, and payments are exempt from 1099-K reporting, meaning users will not receive tax forms for these transactions.
The versatility of PayPal Links is enhanced by its capacity to facilitate international payments, enabling users to send money in over 110 different currencies. This makes it a suitable option for those looking to share expenses with friends, such as splitting a meal or contributing to a group gift.
PayPal Links can be distinguished from the company’s existing payment methods, including the Friends and Family option, which allows users to transact without fees but requires different protocols for sending requests. It also contrasts with PayPal.me, which is geared towards recurring payments.
Compounding its new features, PayPal is set to include cryptocurrency within the Links offering, expanding the types of payment methods available to users. This integration will allow transactions using Bitcoin, Ethereum, PYUSD, and other supported digital assets, reinforcing PayPal’s commitment to evolving as a multifaceted payment platform.
Diego Scotti, General Manager for Consumer Group at PayPal, emphasized the intent behind this launch, stating, “Whether you’re texting, messaging, or emailing, now your money follows your conversations…making it effortless to pay your friends and family, no matter where they are or what app they’re using.” As the digital payments landscape continues to evolve, PayPal Links positions the company as a leader in simplifying personal financial transactions.
