Key takeout
- PayPal has introduced a new peer-to-peer payment service to expand its digital payment offering.
- The service bypasses traditional bank intermediaries and facilitates direct payments between users.
PayPal today launches a new peer-to-peer payment service and presents its latest efforts to expand its digital payment offering.
The Financial Technology Company has announced the service as part of what it describes as a rethinking of remittances between individuals from various locations. The new platform aims to promote direct payments between users without traditional banking intermediaries.
PayPal shares transactions under the ticker symbol Pypl. The company is expanding its payment services portfolio as competition intensifies in the digital payments sector.
This service represents PayPal's continuous push to peer-to-peer transactions. This is a field that has grown significantly as consumers move more and more from cash-based transactions to digital alternatives.
