Paypal has today launched a new service called PayPal.me that allows customers to set up thier own personalized URL which can then be shared with others as a way to request money.
The idea behind the new peer-to-peer platform is that it allows users to direct people who owe them money to their page for easy payment - meaning they're more likely to settle their debts. The URL can be shared on social media networks, via text, over email, on instant messenger, and so on. There's also a selectable option for anyone paying for goods or services, so any eligible purchases will be covered by PayPal's standard buyer protection policies.
All of the links can be personalized, so make sure you snap up the one you want before it gets taken. You can also specify the amount you want to request from someone by altering the URL; mine, for example, is https://www.paypal.me/RobThubron, but if I want to request $20 from someone, I would send them this link: https://www.paypal.me/RobThubron/20.
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.
Although PayPal's new system may seem very similar to its own Venmo money transfer app, one major difference is that Paypal.me is currently supported in 18 countries, while Venmo only works with US banks, credit and debit cards.
PayPal.me has not been designed as a replacement for traditional PayPal services such as 'request money' or sending invoices, but as a simpler, quicker, and more mobile-focused alternative for customers.