PayPal Lets You ‘Name Your Money’ With How It Works

PayPal Lets You 'Name Your Money' With How It Works

A new platform called PayPal.Me has just made its debut, allowing customers in 18 countries to set up personalized URLs for collecting debts. Here's how it all works.
(Photo : PayPal | Tech Times)

PayPal is launching a new platform called PayPal.Me, allowing users to request payments and get paid using a customized URL.

This new form of peer-to-peer transactions on PayPal allows customers to set up user profiles associated with a personalized URL, for instance, where "x" stands for the chosen username. Customers can then share that personalized URL with others via text, email, instant message, social media and so on, as a method to request a payment.

"PayPal.Me is a free, simple, and personal way to request money from anyone across the globe," stated the company.

After sharing the personalized PayPal.Me URL with someone, the recipient can access the link on any device, be it a tablet, mobile phone or computer. From there on, all they have to do is enter the amount they want to give you, tap send and that's it. The money will show up in your PayPal account.

According to a recent PayPal Money Habits Study, people worldwide currently have more than $51 billion to collect in unpaid, small debts, aka IOUs. PayPal points out that people hate the hassle of collecting debts, personally reminding others to pay them back, which is why those debts go unclaimed. The company notes that half of Americans find it awkward to remind friends and family to pay back what they owe to them, but PayPal.Me now makes it easier to ask for your money back.

In other words, PayPal.Me aims to help people collect their money in case they're feeling awkward about asking for it personally, but otherwise it will not help users get their money back from people unwilling to pay their debts.

Nevertheless, it seems like a helpful tool that can facilitate the whole process and eliminate some of that awkwardness.

For now, PayPal.Me is not available in all countries worldwide, which means that some PayPal users will not be able to benefit from this new service just yet.

Starting today, Sept. 1, PayPal.Me works in 18 countries: the U.S., the UK, Germany, Australia, Russia, Canada, France, Turkey, Spain Italy, Sweden, Poland, Norway, Belgium, Denmark, Switzerland, Netherlands and Austria.