You Can Now Use PayPal Through Skype’s Mobile App

The PayPal partnerships keep coming. The still growing payments giant today announced a new deal with Skype that will allow users in 22 countries worldwide to send money to other Skype users through an updated version of the Skype mobile app. This extends PayPal’s potential reach by a sizable amount – the Skype app has been downloaded over a billion times to date, and has approximately 300 million monthly active users, according to Skype parent company Microsoft, as of last year.

To use the feature, you’ll need to be on the latest version of the Skype mobile app. Then, you’ll select “Find” on the top bar while in conversation with a friend or family member, and choose the “Send Money” add-in. You just type in the amount to send, confirm the payment, and hit send to complete the transaction.

To be clear, the feature is designed for sending money between friends and family – not payments for goods or services from a business. And like PayPal’s peer-to-peer payments on other platforms, the rates are the same. That is, sending is free when you use your PayPal balance or debit card in the U.S. If you choose to use a credit card instead, the fee is 3.4 percent of the transaction amount plus $0.30.

This is not the first time Skype has offered peer-to-peer payments powered by PayPal in its app, though you’ll be dating yourself a bit if you remember when such an integration was announced before!

It was way back in 2007, in fact – back when eBay still operated Skype (before its 2011 acquisition by Microsoft) and PayPal (before its 2015 spinoff). That spring, Skype introduced a feature on desktop that allowed its users to send each other money via PayPal, as part of eBay’s larger plan to integrate its various services.

However, this is the first time that Skype has enabled a send money feature on mobile with PayPal, the company says.

This is the latest in a series of partnerships PayPal has announced in recent months, as it works to solidify its position against threats like Apple Pay and even U.S. banks’ own Venmo-like service, Zelle. And it’s doing so by partnering with former rivals, including Apple, as well as Visa and MasterCard, among others.

The company has also recently announced integrations with Samsung Pay, Android Pay, and Baidu; and extended its partnership agreements with Citi and Chase. And on the technology side of things, PayPal has introduced instant bank transfers, Siri integration, support for payments in iMessage, Slack, and Microsoft’s Outlook.com.

PayPal says the ability to send money will begin to roll out today to Skype users on iOS and Android, in the U.S. and elsewhere.

The full list of supported markets includes: the U.S., the U.K., Austria, Belgium, Canada, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, Netherlands,

Portugal, San Marino, Slovakia, Slovenia and Spain.

Sources: techcrunch

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Send Money From PayPal to Your Bank Account Almost Instantly

PayPal has always tried to make it easier to move money around without actually moving money around. But, despite those conveniences, there are still some processes that are either too involved, impossible or simply take too long. For example, getting your own money from PayPal into your bank account can take a whole day, which is almost unreasonable when you think about it. Soon, however, those in the US will be able to enjoy near-instant gratification when they transfer money from PayPal to their bank accounts.

It might not really be instant. The waiting time can range from a few minutes to 30 minutes at most. That’s still nothing compared to the one business day wait in the old system, however. It’s also not going to work for every bank account but only for those with eligible debit cards link to their PayPal accounts. No word yet on which ones.

PayPal has always prided itself in how it has democratized payments and money transfers but that has mostly involved purchases made online or digitally. Sooner or later, however, you’ll eventually want to use some or all of the balance that’s stored in PayPal. While the process is as painless as possible, the waiting is always a killer.

This new instant process doesn’t come without a price. A literal price, that is. There will be a $0.25 charge for every transfer, so make pretty sure you’re transferring the right amount you intended. For those unwilling to pay the charge but are willing to wait, the traditional bank transfer option will always be available.

PayPal has yet to reveal details about this instant bank transfer process, other than it will be launching for the US soon. The exact roster of eligible debit cards have yet to also be disclosed but does imply that not everyone is invited to the party.

SOURCE: Paypal

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PayPal teams up with Android Pay for mobile payments

PayPal is joining forces with Google’s Android Pay mobile payments platform, the companies announced this morning – an effort aimed at allowing PayPal to expand its footprint both within mobile applications as well as at brick-and-mortar retailers. The partnership will see PayPal becoming available as a payment method in the Android Pay service, which will allow U.S. users to pay for things like Uber as well as at retailers like Walgreens, and restaurants like Dunkin’ Donuts and Subway.

The integration in Android Pay will begin by allowing Android users to select their PayPal balance as a method of payment, but will expand to include the cards users have added to their PayPal account in the months ahead.

At launch, the partner integration is with Discover, so PayPal in the Android Pay wallet will work anywhere Android Pay and Discover are accepted.

The deal follows other moves on PayPal’s part to form partnerships with the major card networks, which also had similar goals of expanding PayPal’s footprint by joining forces with the incumbents, instead of doing battle with them.

Last summer, PayPal buried the hatchet with Visa making its online payments service an option when consumers pay with their smartphones in stores, and allowed Venmo users to instantly withdraw money when their Venmo account was linked to their Visa cards. At the time, the company described this effort as “a new PayPal” that is “actively partnering across the digital payments landscape.”

The company then inked a similar deal with MasterCard, again for store payments. That partnership also enabled MasterCard’s digital wallet service as a payment option for PayPal’s Braintree merchants.

One of the larger goals with these initiatives is to help PayPal establish more traction at point-of-sale, where Apple Pay is currently dominating. According to a recent report from Juniper Research, Apple Pay usage has nearly doubled year-over-year, and is expected to reach 86 million users by the end of this year. Samsung Pay and Android Pay are growing too, but have more limited traction. They are expected to reach 34 million and 24 million users, respectively, by the end of 2017.

PayPal has additionally made deals with Facebook, in its Messenger app and the third-party e-commerce bots its supports, and it already had a deal with Google to be available as a payment method in Google Play. PayPal’s Braintree has also enabled Android Pay as a form of payment since Android Pay launched.

The company says it processed $102 billion in mobile payment volume and two billion mobile payment transactions in 2016. That’s a signal that its partnership strategy appears to have been the better option for the older payments service as it tangles with Apple, which has the advantage of owning the hardware, the OS, and has a big stash of customers’ credit card information, thanks to its App Store and growing line of subscription services, like Apple Music and iCloud.

In its last earnings, PayPal saw strong revenue growth with revenue of $2.98 billion in the fourth quarter and adjusted earnings per share of 42 cents.

The PayPal integration with Android Pay will be available on Android OS 4.4 and higher, including KitKat, Lollipop, Marshmallow and Nougat.

Sources: techcrunch

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