- PayPal has launched a new application.
- The app is considered as a one-stop-shop for all digital payment needs.
- The new app includes both crypto and non-crypto use cases along with a wallet tab.
PayPal has launched a new application. To add, the app is considered as a one-stop shop for all digital payment needs of the platform’s users.
Back in July, PayPal CEO Dan Schulman said the platform’s app was getting ready for a release in the US. As per the release on Tuesday, the new PayPal app will allow customers to access all digital financial products of the platform.
Moreover, the new app includes both crypto and non-crypto use cases along with a wallet tab. More so, the wallet tab is to manages the digital asset payments and also high yield savings. Aside from all, PayPal also collaborated with Synchrony Bank, an online bank. Hence, this is to offer high yield savings account through the new app.
Added to this, the virtual asset payment giant announced that users can get up to 0.4% annual percentage yield on their savings with the new app. Even more, users will also be able to withdraw their earnings from the savings account to the balance in PayPal to utilize in online shopping.
Other features will be bill payments, cashback, and rebates, also direct deposits. In addition, the latter feature will reportedly allow users to get payments before 2 days.
PayPal will also add even more features in the coming days. Furthermore, the announcement of a new user app comes only a few days after the firm debuted digital asset trading for customers in the UK.