PayPal, Venmo parent company, announced 'Instant Transfer' on Tuesday for users who typically need to wait at least one business day for those funds to land in their bank.
div > div.group > p:first-child"> PayPal, parent company of the peer-to-peer payments app, announced"Instant Transfer" on Tuesday for users who typically need to wait at least one business day for those funds to land in their bank.
The instant-transfer feature is already rolling out to customers in the U.S., and should be available to businesses in coming weeks with international expansion"expected in the near future," according to PayPal. The company began offering instant deposit for debit cards two years ago. Growth in that product, along with"Funds Now," another way for businesses to instantly access cash, spurred the need for the instant transfer function, Ready said.
PayPal has been continuously moving into more traditional areas of banking like small-business lending. It and other tech companies are becoming increasingly popular options for borrowers who want to cut down on paperwork and access funds more quickly.
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