PayPal has introduced a new feature designed to make sending money between individuals faster and simpler by using personalised, single-use payment links. Called PayPal Links, this service allows users to request or send payments quickly without needing to search for or verify the recipient’s profile, streamlining peer-to-peer transactions.
Unlike PayPal Me, which is primarily used to share profile payment details and requires the payer to enter the amount, PayPal Links enable users to generate a unique link by specifying the payment or request amount within the PayPal app. This link can then be shared in messages, chats, or social media conversations, allowing payments to be completed with fewer steps and less friction.
An important new aspect of PayPal Links is the upcoming support for cryptocurrency transactions in the United States. Users will soon be able to send Bitcoin, Ethereum, PayPal’s stablecoin PYUSD, and other digital currencies directly to PayPal, Venmo, or other compatible wallets that accept crypto and stablecoins.
The feature is initially launching in the U.S., with plans to extend availability to other countries such as the UK and Italy later this month.
To create a PayPal Link, users open the app, input payment details, and produce a private, one-time link for that transaction. These links can be shared via texts, emails, or direct messages where financial discussions occur. If a link remains unused, it will expire after 10 days, though the sender can cancel the link or send reminders to the recipient if necessary.
Recipients simply tap the link to complete the transaction within the PayPal app, where funds are transferred immediately. PayPal emphasises that personal payments made using this method remain exempt from 1099-K tax reporting requirements, maintaining existing tax treatment for peer-to-peer transfers.
This launch comes as digital payments face growing competition, with fintech firms and digital wallets improving their services to offer faster and more versatile ways to transfer money.