The new feature will enable users to send and receive money ‘as easily as sending a text, across apps, borders and currencies’.
Payment platform PayPal has unveiled a ‘Revolut-style’ new payment feature, PayPal Links, which enables people to send or receive funds via a one-time link that can be shared in a text message, DM or email.
Available only to users with a PayPal account, on iOS and Android, PayPal Links is currently available only to US consumers, however, it is being rolled out to a number of European regions towards the end of September, for example the UK and Italy.
Once downloaded and set up, users can send and receive money without incurring fees or tax forms. Unused links will expire after 10 days and in that time, the account holder can prompt the sender, or cancel the payment request.
The peer-to-peer payment platform is also introducing crypto into the mix, as an upcoming feature will enable users to directly integrate cryptocurrencies into the app, making it easier for users to send and receive digital assets.
Commenting on the news, Diego Scotti, the general manager of the consumer group at PayPal said, “For 25 years, PayPal has revolutionised how money moves between people. Now, we’re taking the next major step.
“Whether you’re texting, messaging, or emailing, now your money follows your conversations. Combined with PayPal World, it’s an unbeatable value proposition, showing up where people connect, making it effortless to pay your friends and family, no matter where they are or what app they’re using.”
PayPal has a growing presence in Ireland, as the company recently announced the creation of 100 new jobs, which were generated by the launch of an AI and Fraud Data Science Centre in Dublin.
Additionally, major banking institutions AIB, PTSB and Bank of Ireland, last week (8 September) announced plans to launch Zippay, an online banking tool with the potential to rival popular instant payment app Revolut.
Supported by Milan-based pay-tech Nexi, Zippay will be available to the three banks’ 5m eligible customers in 2026.
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