PayPal launches shareable payment links for peer-to-peer transfers

PayPal Holdings Inc. (NASDAQ: PYPL) launched PayPal links, allowing users to send and receive money through personalized, one-time links that can be shared in text messages, direct messages, or emails.

The feature became available to U.S. users on September 15, with international expansion to the UK, Italy, and other markets planned for later this month. Users create a payment link through the PayPal app, enter transaction details, and generate a unique link for sharing across different communication platforms.

PayPal will integrate cryptocurrency functionality into its peer-to-peer payment system, enabling U.S. users to send Bitcoin, Ethereum, PYUSD, and other digital currencies to PayPal, Venmo, and compatible digital wallets globally.

The payment links expire after 10 days if unclaimed, and users can send reminders or cancel payments before links are accessed. Recipients complete transactions through the PayPal app using their PayPal accounts, with funds becoming immediately available in PayPal Balance accounts.

"Whether you're texting, messaging, or emailing, now your money follows your conversations," said Diego Scotti, General Manager of PayPal's Consumer Group.

PayPal reported that peer-to-peer and other consumer total payment volume increased 10% year-over-year in the second quarter. The company stated that Venmo achieved its highest total payment volume growth in three years during this period.

The announcement follows PayPal's introduction of PayPal World, described as a platform connecting digital payment systems and wallets globally. Friends-and-family transfers through Venmo and PayPal remain exempt from 1099-K tax reporting requirements.

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