Source: cryptoslate

Translation: Blockchain Knight

PayPal has taken decisive steps to promote the integration of conversation and transactions by launching a peer-to-peer payment program that transforms messaging channels into payment channels.

The financial payment giant launched the new PayPal Links service on September 15 local time, allowing users to create a one-time personalized link to send or request funds via SMS, direct messages, or email.

According to the company, the service is designed for speed and convenience and will initially be available to its 278 million customers in the U.S. Later this month, the service will expand to other markets such as the UK and Italy.

PayPal also stated that the plan includes changes aimed at alleviating tax concerns. Transfers to friends and family completed through Links or Venmo will not trigger 1099-K reporting requirements, meaning gifts, reimbursements, or shared expenses will not generate unnecessary tax forms.

How PayPal Links works:

• Create a personalized link: Open the PayPal app, enter your payment or request details, and generate a unique, one-time link to share.

• Always the right person: Each link is private, one-time use, and created for a specific transaction.

• Send anywhere: Send your link via SMS, direct message, email, or chat. Add notes, emojis, or payment descriptions.

• Manage payment activity: Unclaimed links expire after 10 days, and users can send reminders through the PayPal app before the link is claimed, or even cancel the payment or request.

• Click to complete: The recipient clicks the link and completes or accepts the payment using their PayPal account in the PayPal app.

• Instant funds: Once accepted, the recipient will receive funds immediately through their PayPal balance account.

Meanwhile, PayPal is not stopping at dollar transfers; it also plans to support cryptocurrency transfers.

The company stated that this upgrade will allow users to transfer Bitcoin, Ethereum, PYUSD, and other assets through the same link, regardless of whether the recipient holds a PayPal wallet, Venmo account, or external crypto address.

This integration highlights PayPal's increasing focus on digital assets. Data shows that the company's stablecoin PYUSD has reached a market capitalization of $1.27 billion.

By embedding cryptocurrency into messaging-based payments, PayPal is working to drive adoption and utility in a space where convenience often dictates usage rates.

Diego Scotti, General Manager of PayPal's Consumer Division, views this release as part of its mission to make "money move like communication."

Scotti stated, "Whether you are texting, messaging, or emailing, your money can now follow your conversation. Combined with 'PayPal World,' this is an unparalleled value proposition that appears where people connect, making it easy and efficient to pay friends and family, no matter where they are or what app they are using."

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