PayPal has launched a new payment service called PayPal.Me to compete against the likes of Square. This new platform enables you to create a personal URL that others can use to quickly, and conveniently transfer you funds. All that's required is a PayPal account and a working, compatible smartphone with internet access.

Your link can be shared on social media for others to use. Simply hit the link, enter the amount you wish to send that person and hit send. PayPal will then wire the funds directly from your account to the one specified by hitting the connected URL. The best part is you can even personalize your link, I could have PayPal.Me/RichIsTheBest or something similar.

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It's a neat service that works with both Android and iPhone, as well as desktop and various tablets. PayPal.Me is available in Austria, Australia, Belgium, Canada, Denmark, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, Turkey, the UK and US.

Source: PayPal.Me