Easier and faster way to transfer money with Paypal using the Skype app

The partnership between Skype and Paypal will help people to transfer money even in the middle of a conversation. Skype will upgrade their application in iOS and Android. It will function in 22 countries including United States, Canada, UK and European countries.

Users of Skype can send money to friends for travel plans or for their family member who needs money immediately.

Sending money made easier

Skype and Paypal explained that the sending money feature is for personal use only. Payments are not for good, services, and business. Sending is free when Skype users will use PayPal balance or their debit card in the United States. Rates outside U.S. depend on the country provider.

The rate for sending money is the same as PayPal for other platforms. There will be a 3.4% interest and $0.30 transaction fee when using credit cards. There is also no hassle when sending money in different currencies. If the sender is in the U.S. and the receiver is from Europe, the money will be received in Euros.

The return of the old service

If you may recall in 2007, Skype was able to use PayPal before Microsoft acquired eBay and offered Paypal services. The feature allows the consumer to send money in eBay using Skype. After Microsoft acquired Skype, the application focuses on messaging and video calling. Although this service is not new for the two platforms, this is the first time that they will integrate and upgrade their mobile applications.

Integration of PayPal

PayPal also launched their services to different platforms. iPhone users can ask Siri to send money through PayPal. Also, the Slack Bot feature of PayPal allows transferring money through chat and it can VenMo the money via iMessage.

Also, Paypal is also gained partnership with its competitors.

Apple Pay, Visa, and MasterCard are among their former rivals who tie up with PayPal to develop accessibility in the money transfers.

Other big banks like Citi and Chase are also considering integrating to PayPal services. Instant bank transfers are part of the integrated plan of PayPal, and that includes other apps such as Slack, Android Pay, and Samsung Pay.

Overhauling Skype

Skype also go way beyond to compete and exceed the expectations of the user. Instead of their traditional video call setup, the new version of Skype includes new features where you can send Youtube videos, and you can make your own GIFs. With its expanding capabilities, Microsoft is expecting to have a successful launch this year, with their increased numbers of Paypal users.