PayPal Launches One-to-One Payment Links & Crypto Support

PayPal Launches Personalized Payment Links

PayPal is rolling out a novel method for users to transfer funds to each other, utilizing peer-to-peer (p2p) payments facilitated through customized, single-use links.

Introducing PayPal Links

This new system, known as PayPal Links, is designed to work alongside the company’s current PayPal Me feature, which will remain available for sharing profile details and simplifying the process of being located and paid.

Currently, PayPal Me links do not function as specific payment requests until the recipient specifies the intended amount.

Enhanced Functionality and Convenience

Previously, PayPal Me links were exclusively used for receiving payments. However, the new PayPal Links empower customers to both request and send payments to others by simply selecting the link option, entering the amount, and sharing the generated link within a conversation.

This enhancement proves particularly useful for isolated transactions or direct requests, eliminating the need to identify and confirm the recipient’s profile or account details.

Consequently, the process is streamlined, resulting in quicker payments.

Cryptocurrency Support

Furthermore, PayPal Links will soon incorporate support for cryptocurrency within the U.S., enabling users to transmit Bitcoin, Ethereum, PYUSD, and other digital assets to PayPal, Venmo, and compatible digital wallets.

Global Availability

Initially, this feature will be accessible to users in the United States. Expansion to additional markets, including the U.K. and Italy, is scheduled for later this month.

Creating and Using PayPal Links

To generate a PayPal Link, users access the PayPal app and input the payment or request specifics to create a unique, one-time link.

This link is private and tied exclusively to that particular transaction.

These links can then be shared in online chats, text messages, and direct messages during discussions about money, expenses, and purchases.

Any unclaimed links will expire after 10 days, although users retain the ability to send reminders or cancel the link at any time.

Seamless Transaction Completion

The recipient simply clicks the link to fulfill the request or accept the payment within the PayPal app, facilitating instant fund transfers.

Tax Reporting

PayPal confirms that personal payments will continue to be exempt from 1099-K reporting requirements.