PayPal launches new app for crypto, savings and direct deposits

PayPal launched a single app to manage all crypto and non crypto transactions at one dashboard under the partnership program with Synchrony Bank.

Few months back, PayPal firm announced that they are ready for the rollout of the new app in the United States and soon they will launch their “superapp”. 

Read also: PayPal plans to advance user features with SuperApp

PayPal launched its Super app under a partnership program with Synchrony Bank. Under the agreement, Synchrony will allow their clients to earn high yield (0.4%) in the savings of the users. Users can directly transfer the earning funds from the savings bank account to PayPal for the use in shopping purposes. 

The newly launched app “Super App” will allow all PayPal users to manage crypto and non crypto funds management through a single dashboard. That means, users are allowed to use the Super app to manage all digital financial products of the company.

Other additional features that app has are payments, cashback and rebates, as well as direct deposits. While the company claimed that they will further add more other features like Qr Code based systems that will allow faster payment services for their users, probably in next month.

Well this announcement came after the successful rollout of the crypto buy, sell & trade ability for the UK’s PayPal users. Rumours also say that there are chances that the company may introduce a stock trading feature, but here it should be considered as probability because the company talked about the stock Market trading enabled features but where? It is still not clear because on a single platform and single dashboard everything is not possible.

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