PayPal has announced the new PayPal app, an all-in-one, personalized app that offers customers the “best place” to manage their financial lives. The new PayPal app will introduce new features including PayPal Savings, a new high yield savings account provided by Synchrony Bank, alongside new in-app shopping tools that will enable customers to earn rewards redeemable for cash back or PayPal shopping credit & uncover deals with hundreds of merchants.
Additionally, the new app offers PayPal customers a single place to manage their bill payments, get paid up to two days earlier with the new Direct Deposit feature provided through one of its bank partners, earn rewards & manage gift cards, send & receive money to friends, family & businesses, pay with QR codes for purchases & redeem rewards in-store, access and manage credit, Buy Now, Pay Later services, buy, hold & sell crypto, as well as support causes & charities.
The new app includes a personalized dashboard of a customer’s PayPal account, a wallet tab to manage payment instruments & Direct Deposit, a finance tab that includes access to high yield savings & crypto capabilities, & a payments hub, also a two-way messaging feature to send notes of acknowledgment after peer-to-peer transactions.
