This week PayPal introduced a new payment platform in the UK to make life easier for its users. The platform is called ‘PayPal.Me’, and allows its registered clients to transfer money between each other through any digital device.
The process is activated via a personalised PayPal.Me page. The user simply sends the URL to everyone they need to. Once this is clicked it allows transactions. PayPal is marketing PayPal.Me as the best way to send cash back and forth between ‘family and friends’.
The person-to-person (P2P) payment platform challenges the traditional money transfer channels offered by banks. With one of its obvious virtues being that users can avoid spending time logging into their banks and transferring money via their account.
PayPal describes this new process as ‘free of charge’. Which is true for all clients in the UK using the platform for banking, debit cards and PayPal accounts. However, PayPal.Me will still be charging a fee for credit cards and international transactions.
The announcement is one of several that the company has made since it separated from its parent company eBay earlier in the year. The service is available in 18 countries around the globe, including Australia.