PayPal always likes to stay one step ahead of the curve. They are determined to provide excellent services to the people. This is the reason why the company has maintained its strong popularity in the United States. On September 21, 2021, PayPal announced that they were going to launch their new app soon. This is exciting news for those who use the service. And the brand didn’t stop there! The company shared that the new application would have a ton of features that got the whole nation talking. It was a bombshell of a news, even hotter than all the recent gossips on your Spectrum customer service phone number.
What Has PayPal Got in Store for You
PayPal got everyone buzzing when they revealed that one of their new app’s features would be a high yield savings account. Yes, you read that right! Called PayPal Savings, this account will be provided by Synchrony Bank. What’s more? The app will contain in-app shopping tools that will allow customers to earn cashback rewards and get PayPal Shopping credit, which will uncover some exclusive deals with multiple merchants.
Wait, that’s not all! The PayPal app will allow customers to manage all of their bills in a central location. You can also get two paid two days earlier thanks to their feature called Direct Deposit. In addition, you will be able to earn rewards, pay with QR code, and manage gift cards. Moreover, if you are into crypto, this app will allow you to buy, sell, and hold cryptocurrency as well!
An Amazing Interface
PayPal has paid special attention to the interface of its new app. They have made sure that it is as user-friendly as it can be. This is why they have included a personalized dashboard for the users. It will also include a wallet tab that will enable you to manage Direct Deposits as well as payment instruments. You will also find a finance tab that will have show the crypto that you hold alongside your savings. There will also be a payment hub which will include send or receive money features like non-profit giving, international remittances, and bill pay. On top of all, there is a messaging feature on the app which you can use to acknowledge after peer-to-peer transactions are performed.
A Look into PayPal Savings
PayPal’s newest feature PayPal Savings is without a doubt one of the most exciting ones. As stated earlier, it is provided by none other than Synchrony Bank. It offers customers a decent interest rate which will help develop saving habits. Usually, the national savings account provides customers with an interest rate of 0.06%. But PayPal is different. It offers a 0.40% Annual Percentage Yield. This is over six times what the national average is. Furthermore, consumers can easily transfer money between their PayPal balance and PayPal savings. The interest amount is given to the consumer on a monthly basis after the end of their statement period.
PayPal Makes It Easier to Manage Your Finances
With the new PayPal app, managing your finances has just got a lot easier. As stated above, you will be able to receive your pay two days early, thanks to the Direct Deposit feature. With this, the customers will have a choice to add either a portion or all of their paycheck to their PayPal Balance account.
Then there is the bill pay option. This functionality will allow customers to view, track, and pay their bills from multiple companies. The bill that you can pay is related to many utilities such as credit cards, insurance, TV & internet, and phone. Customers will be able to pay the bill directly from the application. People will also be able to set reminders for themselves to pay bills on the app. They can even schedule automatic payments.
In-App Shopping Tools & So Much More
PayPal has stepped up its game by providing in-app shopping tools that will let the customers help in finding great deals. Also, it will aid people in making purchases. Moreover, there will be exclusive rewards for them. PayPal will also be giving some attractive discounts to the shoppers. In addition, on this app, customers will be able to save the deals which they like to use later. There will also be a loyalty program for customers, which will enable them to earn rewards that they can redeem for cashback.
Conclusion
PayPal has outdone itself with its new app. This digital wallet is powered by the company’s AI and machine learning which helps in creating a great wallet experience that is customized for every customer. If you use PayPal, then this is one app that you must try.
