PayPal introduces new features and services, including the
launch of the PayPal Generosity Network in the UK, and two-way
messaging for peer-to-peer transactions
New personalised app provides PayPal customers
with a single destination to easily and securely
manage their daily financial lives and do more with
their money
LONDON, Sept. 21, 2021 /PRNewswire/ -- Today, PayPal
announced the new PayPal app, a personalised app that offers
customers the best place to manage their financial lives. The new
PayPal app will introduce new features for customers in the UK,
including the launch of the PayPal Generosity Network and the
introduction of the Generosity Network for Charity enabling
community and charity fundraising, as well as the introduction of
two-way messaging between two PayPal users.
Additionally, the new app offers customers a single place to
send and receive money to friends, family and businesses, pay with
PayPal QR Codes, access and manage credit and 'Pay in 3' services,
buy, hold and sell cryptocurrency, as well as support causes and
charities they care about.
The new PayPal app includes a new dashboard providing a
personalised view of a customer's PayPal account including an
at-a-glance carousel providing a snapshot of PayPal balance and
upcoming 'Pay in 3' installments; a Wallet tab to manage payment
instruments and review payment and account activity; Finances which
includes PayPal's buy, hold, and sell cryptocurrency product; and
the Payment Hub, which includes the ability to pay with QR Codes,
as well as PayPal's send and receive money features, international
remittances, charitable and non-profit giving, and a two-way
messaging feature to send notes of acknowledgment after
peer-to-peer transactions.
"We're excited to introduce the first version of the new PayPal
app, a one-stop destination for our customers to take charge of
their everyday financial lives," said Dan
Schulman, president and CEO of PayPal. "Our new app offers
customers a simplified, secure and personalised experience that
builds on our platform of trust and security and offers PayPal
customers in the UK new ways to support the causes close to their
heart, send and receive money, buy, hold and sell crypto, manage
Pay in 3, pay with QR Codes and much more in one app."
Introducing the PayPal Generosity Network
PayPal is introducing the PayPal Generosity
Network to customers in the UK to offer a way to
create customised community fundraising campaigns for themselves or
others in need. Inspired by the rising popularity of
peer-to-peer crowdfunding accelerated by the global pandemic,
PayPal introduced the Generosity Network to customers in the U.S.
in November 2020. Since then, the
Generosity Network has been successfully adopted by many, with
customers raising funds for great causes since the launch.
Each campaign created on the Generosity Network is amplified to
millions who can help others reach their fundraising goals. Each
personal campaign can raise up to £20,000 over a 30-day period.
Money donated is then deposited directly into the customer's
account with PayPal, allowing customers to easily distribute the
funds to the intended cause -- be it a local cause, a friend, or
family member.
Customers can create a Generosity Network campaign directly
within the app. Easy to navigate, the step-by-step flow allows
customers to name their cause and set a target fundraising goal,
provide a description and categorise the fundraiser, and add an
image for their cause. Once published, the campaign is ready to be
shared among their friends and family. The campaign is also
published on the PayPal Generosity Network so millions can donate,
view and share.
New Ways to Support Charities
Customers in the UK can
now also seamlessly raise funds for their favorite charity with
Generosity Network for Charity – a new function of the
community-based Generosity Network. This makes it easy for
customers to raise funds for their favorite charity, and ensures
the funds are granted correctly. Instead of the donated funds being
sent to the customer's PayPal account like it would with the
Generosity Network, funds raised with Generosity Network for
Charity will be donated to PayPal Giving Fund UK, a registered
charity (No. 1110538), which grants the funds to charity in
accordance with PayPal Donation Delivery Policy.
Introducing Two-Way Messaging in the PayPal App
The
new PayPal app also introduces a new, private two-way messaging
feature which will enable two users to communicate after they have
conducted a peer-to-peer money transfer, whether to acknowledge
receipt, send a note of thanks, confirm details of the transaction
or more, directly within the app experience.
Two-way messaging enhances the peer-to-peer send and receive
money functionality in the PayPal app, offering a new way for two
PayPal customers to connect when sending money for Friends and
Family as well as Goods and Services transactions. Two-way
messaging is now available for PayPal customers in the UK.
The new PayPal app is an intelligent digital wallet powered by
PayPal's artificial intelligence and machine learning to create a
unique wallet experience that is enhanced and tailored for each
customer. The new app, including the PayPal Generosity Network and
other new features, is starting to roll out today.
About PayPal
PayPal has remained at the forefront of
the digital payment revolution for more than 20 years. By
leveraging technology to make financial services and commerce more
convenient, affordable, and secure, the PayPal platform is
empowering more than 400 million consumers and merchants in more
than 200 markets to join and thrive in the global economy. For more
information, visit paypal.com.
Media Contacts:
Lucy
Meadmore
lmeadmore@paypal.com
Elle Chambré
echambr@paypal.com
Note to text/Note
to editor: relating to the buy, sell and hold feature for
cryptocurrencies, further information is available in the
newsroom PayPal Newsroom - Home
(paypal-corp.com) and/or our crypto page Crypto
| Buy Sell & Hold | PayPal UK including the terms
and conditions of use. Neither the Financial Conduct Authority nor
the Commission de Surveillance du Secteur regulate
cryptocurrencies. If something goes wrong related to
cryptocurrencies, customers won't be able to use the Financial
Ombudsman Service, the European Consumer Center, or any UK or
Luxembourg financial services compensation scheme.
|
|
However, to make
buying and selling cryptocurrencies possible on PayPal we also
provide electronic money and payment services, which are regulated
for details see the "Legal" tab on the PayPal UK website
www.paypal.com/uk/home.
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