Alternate payment platform Paypal has added a new feature that enables its US customers to move money into their bank accounts instantly.
In the coming weeks, the Instant Transfer feature will be extended to business customers as well. there are also possibilities for international expansion in the near future.
In a blog, Bil Ready, COO says: “Getting faster access to money is becoming more and more critical for most people, especially as the global workforce is evolving and an increase in less traditional and more entrepreneurial jobs means people have potentially less stable and more variable incomes.”
“Faster access to your money can also mean being able to cover unexpected expenses and emergencies, staying on top of bills and avoiding late fees. For businesses, getting faster access to money from their sales can mean they can afford to hire more employees, purchase inventory, quickly invest back into their businesses and better manage their cashflow.”