“Sort” Your Friends and Family Members with PayPal Digital Money
PayPal has launched a virtual cash transfer option known as ‘Digital Money Card’. Engadget is reporting that meant to be sent to friends along with to show appreciation, pay for a service or simply help them during a difficult time.
PayPal launched the “friendship cards” to celebrate Friendship day which will be holding on August 6th but it announced that the feature will be available later for the entire month through the P2P payment’s app. According to Paypal, 84 percent of Americans have paid or sent money to their family members or friends to the tune of around $4,200 this year and that a third of that amount is usually made through some payment apps.
It is evident that Paypal is keen about transcending its traditional transaction process as a Fintech platform to make payments easier for users by taking their services to the points of greatest need. Recall that PayPal teamed up with Skype to make it easier for you to transfer money to other users mid-conversation. That seems like enabling users to pay just when it comes to mind.
As it stands PayPal has opened multiple channels for payments and this is just another. You can already send money via PayPal through other apps. PayPal also has a Slack bot that lets you transfer funds through chat as much as you can Venmo money through an iMessage. You can even ask Siri to send some cash through PayPal for you. It is that easy.
This is maybe useful for Nigerians, especially in the face of fluctuating policies and varying FX spending limits. PayPal happens to be one of the possible options to be explored when the crucial online transactions come calling or when you need to simply pay for a minor freelance service. Although we have some form of convenient payment options here, we look forward to the day making transfers maybe through Whatsapp will be a reality.
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