PayPal Holdings Inc (NASDAQ: PYPL) to Update App Such that Account Will Double Up as a Savings Account

PayPal Holdings Inc (NASDAQ: PYPL) has announced that the group will update the app to work like a savings account. The app will have a new visual design. In addition, it will have provisions to support a savings account. It will also have facilities to enable users to find coupons in the application. Ever since the application was available for users, the focus has been to facilitate sending and receiving money and cryptocurrencies. However, the new version of the app offers something for everyone. The good news is the app is available for users today. 

Here’s taking a closer look at the new version of the app

The all-new improved version of the app is something that a user cannot miss out noticing. The good old PayPal app gave priority to sending and receiving money. A user would see the account balance flash on opening up the app. However, all this has become a thing of the past with the app. Instead, the all-new version of the application welcomes users with its homepage, which offers a series of features. The dashboard that sits on the homepage gives the user access to a plethora of features. A user can gain quick access to balance, get to know the amount of crypto the user owns, there is a provision to access frequent contacts, and there are other features as well. The tabs and hubs give access to a range of alternatives.

The payment feature allows users to pay bills

Under the wallet, tab are features like direct deposit, credit, and debit cards. The payments hub is a place where a user can make payments and monetary donations. Shopping enthusiasts can access loyalty programs and monitor coupons. In addition, cryptocurrencies and the new high-yield savings account have made it to the finance tab. 

The new version of the app allows direct deposit

Inculcating a savings account is just one of the new features of the all-new version of the PayPal application. The new app also supports the direct deposit feature. Shopping is also given priority. PayPal app has a unique shopping hub that offers in-store offers and discounts. The app allows a user to shop through the app’s in-house browser. Besides this, the PayPal app also provides shoppers with discounts and offers on several popular brands. The group is also introducing a customer loyalty program that will give the users cashback and credit. While the PayPal app is available today, the savings account will be made available later this year. 

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Published by Benjamin Roussey

Benjamin Roussey is from Sacramento, California. He has two master’s degrees and served four years in the U.S. Navy. His bachelor’s degree is from CSUS (1999) where he was on a baseball pitching scholarship. His second master’s degree is an MBA in Global Management from the University of Phoenix (2006). He has worked for small businesses, public agencies, and large corporations. He has lived in Korea and Saudi Arabia where he was an ESL instructor. Benjamin spends his time in between Northern California and Cabo San Lucas, Mexico, committing himself to his craft of freelance and website writing.

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