PayPal (PYPL) Announces Peer-to-Peer Payments Service, PayPal.Me

PayPal (NASDAQ: PYPL) posted the following to its official blog on Tuesday:

Imagine how much time you waste chasing down friends, family and customers to pay you back. Today, we’re announcing for the first time you can name your money with PayPal.Me: your personal link to getting paid back.

PayPal.Me makes requesting money from groups of friends, family and colleagues suddenly so much easier and faster. Rather than following up individually, you can email your PayPal.Me link to co-workers to chip in for an engagement present for another co-worker. Or stop asking each of your fellow bridesmaids for bachelorette party payments and just send a group text message with your PayPal.Me link.

Name Your Money with PayPal.Me
PayPal.Me is a free, simple, and personal way to request money from anyone across the globe. It’s a link you can personalize with your name (for example, mine is paypal.me/meron) and send to groups of friends, family and colleagues for a quick, hassle-free way to pay you back quickly. It’s an instant, safe, unique link that works on any device no matter where you’re talking to people – in a text, email, instant messenger, social media post, blog, or on the web.

All it takes are three simple steps:

• Share your personalized PayPal.Me link in a text, over email, instant messenger, social media post, blog, or on the web.
• Recipients click the link on any device no matter what mobile phone, tablet or computer they are using.
• Recipients enter the amount, hit send and the money is on the way… that’s it! The money is quickly transferred into your PayPal account.

Currently adults worldwide are owed more than $51 billion in IOUs (unpaid, small debts) from friends and family, according to our recent PayPal Money Habits Study [1]. These billions of dollars go unclaimed simply because people hate spending the time to chase down debts, and have those awkward face-to-face conversations. That same study found that over 50 percent of Americans find it awkward to ask their friends or family to pay them back. But PayPal.Me changes everything about getting paid back.

So go grab your PayPal.Me link now! Starting today, anyone in the following 18 countries can create their personalized link - the U.S., Germany, UK, Australia, Canada, Russia, Turkey, France, Italy, Spain, Poland, Sweden, Belgium, Norway, Denmark, Netherlands, Switzerland, and Austria.

[1] Based on results from people in U.S., Canada, Germany and Australia.

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