PayPal to Launch App That Can Facilitate Crypto Transactions

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The global payments platform PayPal has announced that it will be releasing a new app loaded with features to make digital payments more convenient. In a release from the company, PayPal confirmed that this app was designed to ensure that its customers can handle their crypto transactions on the platform with the same ease they’ve been managing their regular bank transactions.

Before this official release, sources at the top echelons of power within the company, including the CEO, Dan Schulman, had hinted about PayPal developing a Super App. With this official statement, the Super App is finally ready.

According to the company, the new app comes with multiple features. One of the most notable features is PayPal Savings. This feature is high yield savings account in partnership with Synchrony Bank.

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Through it, users can earn up to 0.40% annual returns on their savings. Just as users can save, they can also manage their savings, set targets, monitor progress, and enable auto-save, which helps cultivate a savings culture and achieve financial goals.

Shopping Made Easier With new PayPal App

Also, shopping through PayPal just got a lot better with the in-app shopping tools. Through it, customers can discover the best deals from merchants using the in-app browser and can save such deals to their wallets for future purposes. All they need to do is checkout with PayPal either through the app or online. The company also intends to add a loyalty program where customers earn rewards they can redeem for PayPal shopping credit or cash back.

Beyond the shopping experience, the new app will also offer users a better way to manage their money. PayPal does this by improving the existing features of the app. For instance, Direct Deposit will make it possible for users to get paid earlier. In addition, the Bill Pay function is now better as customers can track, see and pay almost all their bills directly through the app.

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The new app also comes with functions that facilitate crypto transactions which are contained in the finance tab. PayPal launched its crypto service last year in the US and has already extended it to the United Kingdom.

As a result, managing crypto assets on the platform will be much easier now. According to the company, the new app is already fully operational in the US. Other features will be unveiled in the coming months. PayPal also intends to add investments functionalities to the app to create an all-in-one financial platform for consumers.

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