Now, it will support around 17,000 billers. When bill pay first arrived earlier this year, it offered access to (single-digit) thousands of billers. The enhanced bill pay feature lets customers track, view and pay bills from thousands of companies, including utilities, TV and internet, insurance, credit cards, phone and more, PayPal says. PayPal’s new ‘super app,’ to include messaging, is ready to launch In addition to shifting their paychecks to Payal, customers’ PayPal funds can then be used for things that are a part of daily life, like paying their bills, saving or shopping, for example. These features could make PayPal more competitive, as getting paid earlier has been one of the bigger draws among those considering digital banking apps instead of using traditional banks. Though PayPal itself doesn’t aim to be a “bank,” the new app offers a range of competitive features for those considering shifting their finances to neobanks, like Chime or Varo, as it will now also include support for paycheck Direct Deposits through PayPal’s bank partners with two-day early access, bill pay and more.
These changes shift PayPal from being largely a payments utility that’s tacked on other offerings here and there, to being a more fully fleshed out finance app. The company is also announcing its partnership with Synchrony Bank for its new high-yield savings account, PayPal Savings. Today, the first version of that app is officially being introduced, offering a combination of financial tools including direct deposit, bill pay, a digital wallet, peer-to-peer payments, shopping tools, crypto capabilities and more. PayPal has been talking about its “super app” plans for some time, having recently told investors its upcoming digital wallet and payments app had been given a go for launch.
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