PayPal has introduced a new, free, simple and personal way to request money from people: PayPal.Me. It is personal because Canadians can grab their own, personal PayPal.Me link, which will be added to their existing PayPal account, and then share their new PayPal.Me link (with their name) to accept money from people.
To get paid, you share the PayPal.Me link, and the payer will need to click the link, enter the amount, and that’s about it. The money will be transferred to your PayPal account in seconds.
The company has commissioned a study to back their move: According to the survey (of 4,000 people across Germany, Canada, Australia, and the US), Canadians are owed $462 (CAD) on average, and 30% have lost friends over IOUs. The problem is that 53% of Canadians find it awkward to ask their friends or family to pay them back. Oh, and by the way, digital wallets are continuing to grow in popularity, as peer-to-peer payments are increasingly popular for IOUs.
Actually, money is an uncomfortable subject, and it takes a lot of time to chase down debts. Here is what Dr. Ryan Howell, Associate Professor of Psychology at San Francisco State University and expert on the psychology of spending, said:
“People are more willing to discuss their sex lives than their finances. Money is still considered an incredibly private, personal topic for many people due to deep-seated cross-cultural stigmas around money.”
PayPal, is aiming to solve this matter by allowing Canadians to start collecting money simply by sharing their personalized PayPal.Me link. Let us know if you are going to jump on this.