Transferring owed money to someone who isn't nearby can be a hassle, but thanks to the new PayPal.Me app extension, users can now do peer-to-peer transactions with the click of a button. This is a great addition to the PayPal platform that use to formerly focus on customer-to-business transactions.
PayPal.Me allows users to simply set up stress-free transactions to hunt down owed money from friends, family and even strangers. The platform allows users to create a link that can be shared via email, social media or text. The link is an access page that can be used to collect funds as viewers can easily enter amounts that will be filtered through to your PayPal account. This is an efficient tool for crowdsourced activities such as hosting a party, purchasing a gift or even weddings.
Peer-to-Peer Payment Services
PayPal.Me Allows Consumers to Transfer Payments Between One Another
Trend Themes
1. Peer-to-peer Payment - The increasing popularity of PayPal.Me highlights a growing trend in peer-to-peer payment services, and presents an opportunity for disruptive innovation in this space.
2. Mobile Payment Solutions - The convenience of PayPal.Me's mobile functionality speaks to a wider trend in mobile payment solutions, and presents an opportunity for innovative apps and services with similar functionality.
3. Crowdfunding - PayPal.Me's ability to facilitate crowdsourced activities highlights a growing trend in crowdfunding platforms, and presents an opportunity for innovative platforms with unique features and functionalities.
Industry Implications
1. Financial Technology (fintech) - PayPal.Me's emergence in the peer-to-peer payment space is indicative of a broader trend in the financial technology industry, and presents an opportunity for disruptive innovation in this booming sector.
2. Social Media - PayPal.Me's functionality as a payment tool that can be shared via social media highlights a trend in social media integration in the payments industry, and presents an opportunity for social media companies to incorporate payment functionality into their platforms.
3. Wedding and Event Planning - PayPal.Me's ability to facilitate crowdsourced activities, such as hosting a party or purchasing a gift, presents an opportunity for disruptive innovation in the wedding and event planning industry, particularly in the realm of payment and logistics.