PayPal relaunch as Super-App
PayPal has given its app a major overhaul, adding a savings account and new in-app shopping tools and messaging features.
As it continues to move beyond its core payments services, PayPal has redesigned the app in an effort to offer “customers the best place to manage their financial lives,” says a statement.
Additionally, the new app offers customers a single place to manage their bill payments, get paid up to two days earlier with a new Direct Deposit feature, earn rewards and manage gift cards, send and receive money to friends, family and businesses, pay with QR codes for purchases and redeem rewards in-store, access and manage credit, BNPL services, buy, hold and sell crypto, as well as give to charities.
Users see a personalised dashboard of their account, a wallet tab to manage payment instruments and Direct Deposit, a finance tab that includes access to the savings and crypto capabilities, and a payments hub.
A private two-way messaging feature enables two users to communicate after they have conducted a P2P money transfer, so that they can acknowledge receipt, send a note of thanks or confirm details of the transaction.
Dan Schulman, CEO, PayPal, says: “Our new app offers customers a simplified, secure and personalized experience that builds on our platform of trust and security and removes the complexity of having to manage multiple financial or shopping apps, remember different passwords and track loyalty rewards.”
