After unveiling the new “super app” in July, PayPal officially announced an app New all-in-one custom app Which provides users with all the tools they need to manage their financial lives.
The new PayPal app also introduces new money transfer features, a new account High yield savingsPlus, new tools In-app purchase which allows users to earn redeemable rewards for them Cashback or credit for purchases.
In addition, the new app provides a single place for PayPal customers to manage invoice payments, to be paid up to two days in advance with the new direct deposit feature, to earn rewards, manage gift cards, Send and receive money to friends, family members and businesses, pay with QR codes, access and manage their credit, buy, hold and sell cryptocurrency and take advantage of buy now and pay later services.
Dan Shulman, PayPal President and CEO, provided more information about the company’s new app in a press release, saying:
“We are excited to introduce the first version of the new PayPal app, a one-stop-shop for our customers to manage their everyday financial lives, with new features such as access to high-productivity savings, in-app purchase tools, find offers and earn cash rewards, and early access to direct deposit and bill payments. Our new app provides customers with a simplified, secure and personalized experience based on our trusted and secure platform and removes the complexity of having to manage multiple financial transactions or shopping apps, remember different passwords and keep track of loyalty rewards.”
The new PayPal app is a smart digital wallet that includes a dedicated dashboard for the customer account.
The application’s wallet tab allows users to manage direct deposit and payment tools, the financial tab includes access to high-yield savings and crypto capabilities, and the payments center includes sending and receiving functional funds, international transfers, charitable and non-profit donations, and bill payments. However, the P.ayPal has also added a two-way messaging feature so that users can send feedback after peer-to-peer transactions.
With the number of consumers using digital wallets expected to double to 4.4 billion globally by 2025, according to a Juniper Research report, the new PayPal app aims to solve this problem by offering a comprehensive app to the company’s users. It can serve as an essential destination for managing their daily financial life.
By the end of the year, PayPal plans to add more features and improvements to its app, including investment capabilities and more ways to pay with the app online and in-store.
The new PayPal app is now available, and new PayPal Savings and company tools for purchases and rewards will be available in the coming months.
