PayPal's Peer-to-Peer Payment System Now Includes Customizable Cards
Laura McQuarrie — August 15, 2017 — Tech
To coincide with Friendship Day this year, PayPal is introducing a new feature to enhance its peer-to-peer payment service. Now, as part of the "digital gifting experience" that it offers, PayPal is making it possible for users to send monetary gifts with customizable themed cards.
Now, when a PalPal user logs into their account and chooses "Send & Request," they are able to choose a card design, select a dollar amount and send a thoughtfully designed digital card to their friend. Some of the card designs boast travel-inspired themes, while others are centered around food and entertainment.
As PayPal reports, "the rise of P2P payments among family and friends has spawned a whole new behavior: almost 40% of Americans send their friends small sums of money when they aren’t expecting it." These new digital cards offer an extra-sweet way to say "thank you" and more.
Now, when a PalPal user logs into their account and chooses "Send & Request," they are able to choose a card design, select a dollar amount and send a thoughtfully designed digital card to their friend. Some of the card designs boast travel-inspired themes, while others are centered around food and entertainment.
As PayPal reports, "the rise of P2P payments among family and friends has spawned a whole new behavior: almost 40% of Americans send their friends small sums of money when they aren’t expecting it." These new digital cards offer an extra-sweet way to say "thank you" and more.
Trend Themes
1. Customizable Themed Cards - The ability to send customizable themed cards with monetary gifts has the potential to disrupt the greeting card industry.
2. P2P Payments - The rise of P2P payments among family and friends presents opportunities for disruptive innovation in the financial technology industry.
3. Digital Gifting Experience - Enhancing the digital gifting experience through personalized cards can disrupt the traditional gift-giving industry.
Industry Implications
1. Greeting Card Industry - The rise of customizable themed cards in P2P payments could disrupt the traditional greeting card industry.
2. Financial Technology Industry - The increasing popularity of P2P payments creates opportunities for disruptive innovation in the financial technology industry.
3. Gift-giving Industry - Improving the digital gifting experience with personalized cards has the potential to disrupt the traditional gift-giving industry.
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