PayPal has introduced a new feature for users — PayPal Links, which allows sending and receiving money through unique one-time links.
What are PayPal Links?
The new PayPal Links feature allows users in the US to create personalized payment links. These links can be shared via text messages, chats, or email, making the transfer process simple and accessible.
Benefits of Using PayPal Links
Among the key benefits of PayPal Links are the lack of need to download an app, the ability to transfer money without tax obligations, and ease of use. As noted by Diego Scotti, PayPal's Vice President, 'Now your money follows your conversations.'
Competition in the P2P Transfer Market
The launch of PayPal Links enters competition with other P2P transfer services such as Zelle and Cash App. According to a recent J.D. Power study, consumers use an average of 2.8 P2P brands, with Zelle being the most popular.
Thus, PayPal Links may indeed change the way users approach money transfers by simplifying and making the process more universal.
