Now that social payments have been increased a lot, PayPal has introduced a new Facebook app named “Send Money” to send money to friends. This is a really simple app to use. You only need to know the email address of the person you’re sending money to. You can send an ecard with money or money with no card depending on your choice.
Heinz Waelchli (PayPal Director of Product Marketing) explained how it works as below:
“Visit our send money application page and click on the ‘Get Started’ button to install the application. Next just fill in the fields in the form and click the ‘Continue to PayPal’ button. You’ll be taken to the PayPal site to log-in (if you don’t already have an account, you can create a new account in minutes). You’ll then choose your method of payment, if you use your PayPal balance or bank account to send money to friends and family within the U.S., it’s free. You can enter a personal message to your recipient if you like. Finally, click on the ‘send’ button and that’s it! Your recipient will be notified by email right away. The receiver can then log-in to PayPal to claim the money or quickly sign up for a new account.”
Except PayPal’s regular limits and international fees, there is no transaction fee applied since it’s a peer-to-peer transaction. JB Coutinho (PayPal Senior Product Marketing Manager) said, “Sending Money, person to person, is free. If it’s funded by a PayPal balance or linked to a bank account, it’s free.”
You can send money to whoever you want and whenever you wish whether it’s your friend’s birthday or any other event. By introducing this app, PayPal has taken a revolutionary step to make social payments a reality.
PayPal is focusing greatly on making the process of sending money easier and easier and for this purpose PayPal is planning to introduce more apps like Send Money.