PayPal launches PayPal.Me service in Hungary

In Hungary

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PayPal is launching its personal peer-to-peer (P2P) payment method PayPal.Me in Hungary, according to a press statement sent to the Budapest Business Journal today by the global online payments system operator.

With the feature, individuals registered with PayPal can create their own PayPal.Me web address through which they can receive payments, whether it is money from family members, friends or businesses paying for freelance work.

PayPal argues that dusk is falling on the era of cash, and with its perceived disappearance, digital payments will become more frequent and favorable. The PayPal Money Habits Study found that while paying in cash is still preferred, mobile payments are on the rise, with P2P payments increasingly popular for paying back small debts. “Given that 93% of the global study’s participants hate owing people money, with PayPal.Me you don’t have to worry about owing money to a friend or family member again,” according to PayPal.

“Let’s face it – cash is outdated,” said Matt Komorowski, Managing Director of PayPal Northern Central Europe. “When using PayPal.Me, you have a personal, easy way to transfer money among friends and family. It is also an amazing way for businesses, freelancers and charities to get paid – one link, quick payment, and it’s done. With the new generation of mobile movers (early tech adopters), I believe peer-to-peer, also across borders, will dominate the future of payments,” he added. 

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