Skype is integrating PayPal (NASDAQ:PYPL) into its messaging app so users can send money while they are in the middle of a conversation. Called Send Money, the feature was developed for transferring funds using the latest Skype mobile app on iOS and Android platforms.
Send Money Through Skype
In an official post on the company blog, the Skype team said transferring funds is going to be as easy as swiping right on your mobile device, tapping Send Money and finalizing the process.
You will need the latest version of the Skype mobile app, but this doesn’t apply to the person you are sending the money to. They can use any version of Skype, and of course they must have a PayPal account. The service is currently limited to 22 countries around the world, including the US, Canada, France, Germany, Italy, Spain and others.
Neither Skype nor PayPal have mentioned whether the feature can be used for businesses. TechCrunch has reported, “The feature is designed for sending money between friends and family — not payments for goods or services from a business.”
However, for freelancers and other small business owners, this will be a great way to pay for a service while they are having a conversation with a client. It remains to be seen if Skype makes it available for businesses formally. However, the opportunities and applications are clear enough.
Small Business Deals
For small businesses providing real-time services such as educational courses, tutorials and webinars using Skype, accepting payments from participants for products and additional services seems a natural extension.
Sending Money on Skype
For now, to use the feature simply:
- Tap find or swipe to the right in a Skype chat.
- Select “Send Money” from the add-ins.
- Choose the country you live in and where you want to send the money, and tap “Next.”
- Enter the amount of money you want to and tap “Next.”
- Sign into your current PayPal account and link your PayPal account to your Microsoft account.
- Complete your transfer by tapping “Send.”
- Go back to your conversation and a money card will show with the transfer status.
The fee for the service is the same as other peer-to-peer payments from PayPal on other platforms. It will be free if you use a debit card or your PayPal balance in the US. If you use a credit card, you will be charged $0.30 plus 3.4 percent of the transaction amount.
PayPal Photo via Shutterstock