There’s now no excuses for not paying back your mates, as PayPal have announced a new Facebook app, PayPal Send Money, which allows you to easily send your family and friends money through the social .
So, why an app on Facebook? PayPal is going to where friends and family connect now. According to Facebook, about 50 percent of its 750 million users log onto the social media network daily and average about 130 friends. Â And, the Greeting Card Association estimates that Americans send 500 million e-cards annually.
In a world that’s turning increasingly to social media, we are giving our customers the flexibility to send their money to whoever they want, whenever they want and for whatever (occasion) they want.
Whilst the announcement states that sending to family and friends with a Paypal account is free within the US, it does support a total of 65 currencies, but there’s no details of whether the costs are any different in the UK.
PayPal have also added a social element to the payments, allowing you to attach an e-Card to send to your friends, which will be good if you’re sending the money for their birthday or another special occasion.
The recipient will need their own PayPal account before you can send them money, so you’ll need to know the email address they use for PayPal before you proceed with the transaction.
Once sent, your payment appears on your friends wall, but only you and your friend can see it, which is probably for the best.
View a full run through of the app in action on Mashable, or head on over to the app to try it out for yourself.
If you want to send me some money, get in touch and you can have my PayPal address…
This is a great idea, but keep in mind that paypal does not work in various countries. I had a friend who is in Pakistan, and could not send him money due to restrictions there. Of course, the rationale for certain country restrictions may be obvious, but do keep in mind that there are limitations out there in terms of how this can be used.