'Paypal.me' is a Convenient Peer-to-Peer Payment Service
Christopher Magsambol — September 3, 2015 — Tech
PayPal wants to end the awkwardness you may feel when asking friends or family for money through its new peer-to-peer payment service 'PayPal.me'.
The service is a user-friendly solution and lets one request and receive money in a fast and efficient manner. Through a personalized link, users can request money from a peer through social media, email or text. A simple request can be made with a basic format sent out that reads, "paypal.me/username/20," with the last number indicating the amount of money needed.
This service is perfect for a large group of friends or family who often split bills. Another group who can benefit from the app are business owners who can use it to keep track of their incoming money or receive payments from customers remotely. PayPal.me joins a number of money-sharing apps on the market including Square Cash and Google's Android Pay.
The service is a user-friendly solution and lets one request and receive money in a fast and efficient manner. Through a personalized link, users can request money from a peer through social media, email or text. A simple request can be made with a basic format sent out that reads, "paypal.me/username/20," with the last number indicating the amount of money needed.
This service is perfect for a large group of friends or family who often split bills. Another group who can benefit from the app are business owners who can use it to keep track of their incoming money or receive payments from customers remotely. PayPal.me joins a number of money-sharing apps on the market including Square Cash and Google's Android Pay.
Trend Themes
1. Peer-to-peer Payment Services - A trend of convenient, personalized payment services that allow users to easily request and receive money from peers through social media, email or text.
2. Mobile Payment Apps - A trend of apps that make money-sharing and payments easier and faster than traditional methods, creating opportunities for businesses and individuals.
3. Contactless Payments - A trend of payment options that allow customers to pay remotely, e.g. through mobile payments, creating opportunities for increased customer convenience and speed in transaction processing.
Industry Implications
1. Financial Services - There are opportunities for financial services companies to create innovative, personalized payment solutions for individuals and businesses within a growing, competitive marketplace.
2. Retail - Retail businesses can benefit from adopting mobile payment options and accepting payment remotely to increase customer convenience and reduce transaction processing time.
3. Hospitality - Hospitality businesses can take advantage of peer-to-peer payment services for bill-splitting and offering contactless payment options for increased customer convenience and speed in transaction processing.
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