PayPal has updated its mobile app.
The new app makes it easier for users to request payments and to pay friends, family, and coworkers.
The free app, available on iOS and Android, reflects a change in how people move their money today.
“You’ve shown us that sending and requesting money from your friends and family is the most popular feature in the app,” PayPal says. “Over the last two years, we have seen over 100% growth in the number of peer-to-peer transactions happening in the app.”
Research from Gfk reveals that PayPal is the most popular mobile payment platform in Canada. 65% of Canadians said they’ve paid with PayPal on a mobile device in the past six months.
“We are in a period of transformation—how people shop; how merchants sell; how people interact with the financial system; the very nature of money itself is changing,” said Dan Schulman, CEO of PayPal. “New Money is a celebration about the ways technology can help expand and improve financial participation and financial health for billions of people worldwide. We want to reimagine money, enabling new ways for people to securely and affordably manage, move and spend their money.”