PayPal has launched PayPal links, a new solution for receiving and sending money through a personalised, one-time link that can be shared in conversations online.
With this rollout, users in the US can create personalised payment links, aiming to make payments simple and universal and expand its customer base to bring more users to its ecosystem. Expansion in regions such as the UK, Italy, and other countries is coming later this month.
Pay-by-link from PayPal
As crypto will be directly integrated into PayPal’s app, the P2P experience will go even further. This initiative aims to make it more convenient for users in the US to send Bitcoin, Ethereum, PYUSD, and more to PayPal, Venmo, and other digital wallets that support crypto and stablecoins worldwide.
The company expands what individuals can do on its platforms without changing the fact that P2P transfers through Venmo and PayPal are exempt from 1099-K reporting. This means that users don’t get taxed on gifts, splitting expenses, or reimbursements, making sure that personal payments stay personal.
PayPal’s new launch allows users to generate a unique, one-time link that they can share through email, messages, or text. Combined with PayPal World, the feature makes it convenient and safe for clients to pay their peers and family. To make a link, users need to open the app, enter the payment details or request a payment, generate the link and share it. Each link is private and created for a specific transaction, and can be sent anywhere.
If unclaimed after 10 days, the link expires. To prevent this, users can send a reminder or cancel the payment or request altogether before the link is claimed in the app. To claim it, the recipient taps or clicks the link and either completes the details or accepts the payment with their PayPal account. They will get immediate access to their funds with a PayPal Balance account once accepted.
