PayPal announces app with new features27. September 2021
PayPal announces app with new features
PayPal announced the release of an app that combines features such as advanced bill pay, peer-to-peer and in-app shopping. The company also announced a savings account with 0.40% APR in partnership with Synchrony Bank.
The update allows customers to pay bills within the app’s 17,000 businesses, including cable providers and utilities. The app includes a personalized dashboard with access to direct deposits, bank accounts, the new savings account, and crypto features already available for Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
The new shopping feature is similar to PayPal’s $4 billion app acquisition Honey. A payments tab will include peer-to-peer transactions and messaging, international payments and charity options.
The app update is available. However, the Synchrony savings account will not be released until “the coming months.”