PayPal has introduced a new feature allowing users to send or receive money through one-time shareable links, enhancing its service across various messaging platforms. These links will automatically expire after ten days of inactivity and are set to roll out in the U.S. before being made available in the U.K., Italy, and other countries later this month.
To utilize this feature, users need to navigate to the “Send/Request” tab on the PayPal app, where they will find the option to create a link for sending or requesting money. Once selected, users can input the desired amount and also include optional notes explaining the transaction before generating the link. This link can then be shared with anyone via text, direct message, email, or chat. Recipients can easily tap the link to complete their transaction within the PayPal app or website. PayPal has emphasized that transfers between friends and family through Venmo and its own platform remain free from 1099-K reporting.
In addition to these link-sharing capabilities, PayPal is also expanding its services in the cryptocurrency space. U.S. users can soon send various cryptocurrencies, including Bitcoin and Ethereum, to PayPal and Venmo, as well as to an increasing number of digital wallets globally that support crypto and stablecoins. This new initiative builds on PayPal’s recent launch of PayPal World, aimed at facilitating interoperability among major payment systems worldwide. Once fully implemented later this year, PayPal World will enable cross-platform transactions among services like Mercado Pago in Latin America and Weixin Pay in China, broadening the scope for international payments and collaborations.
