PayPal has announced the launch of a new personalized link feature to simplify money transfers, which will be available internationally in the future.
Personalized Links for Users
PayPal has launched the ability for users in the U.S. to create personalized links to send and receive money. This feature will allow users to share unique links through messaging apps, SMS, or email. The company plans to expand this functionality to international markets including the United Kingdom and Italy.
Cryptocurrency Integration in Payments
Alongside the launch of personalized links, PayPal announced the direct integration of cryptocurrency into its P2P payment platform. U.S. users will be able to send Bitcoin, Ethereum, and other digital assets through the app. These transfers will work seamlessly between PayPal, Venmo, and digital wallets that support cryptocurrency and stablecoins. Diego Scotti, General Manager of PayPal’s Consumer Group, stated that this step aims to simplify money transfers in conversational contexts.
Growth in P2P Transaction Volumes
PayPal's P2P services are already demonstrating significant growth. Consumer payment volume increased by 10% year-over-year in the second quarter, while Venmo recorded its fastest total payment volume growth in three years. With broader interoperability and new features, the company aims to reach billions of users.
The launch of personalized links and the expansion of cryptocurrency transfer options underscore PayPal's strategy to modernize P2P payments and connect users globally.
