PayPal has unveiled Send Money, an application on Facebook which lets users send e-cards and money to friends. It's a move which seems like a no brainer, given that the site has more than 750 million users and a large percentage of them have active PayPal accounts.
Writing on the PayPal blog, JB Coutinho, senior product marketing manager, comments: "Why an app on Facebook? PayPal is going to where friends and family connect now. According to Facebook, about 50 per cent of its 750 million users log onto the social media network daily and average about 130 friends. And the Greeting Card Association estimates that Americans send 500 million e-cards annually."
Facebook users visit the Send Money app page, select a card and choose a recipient. They log-in to their PayPal account within the app, choose the dollar amount and click send. The card is immediately posted to the recipient’s wall. If they just want to send money, they can enter the money amount and login to PayPal to complete payment.
Coutinho notes: "Send Money’s roots extend to the very inception of PayPal itself. Believe it or not, the company originally began as a way for people to “beam” money between Palm Pilots. Today, you can send money online from PayPal.com, via our mobile apps and now via Facebook—anytime, anywhere. The best part is it’s free to send money to friends and family in the US if you pay via your bank account or PayPal balance. And we believe our new Facebook app will make it easier for consumers to send money to their friends and family."
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