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PayPal and USAA Federal Savings Bank (USAA Bank) to Offer Person to Person Payments

PayPal said that “UAA Bank now allow them to start developing a person to person payment solution for USAA members — something USAA Bank plans to deliver in 2011. USAA’s members will be able to pay almost anyone with an e-mail address or mobile phone number, in real-time, and directly from their mobile phone!

The use cases for this type of service are endless, once such example is the ability to instantly send money to friends & relatives, or even the local PTA. USAA members will be able to do this in real time with the money accessed from their USAA Bank account.

USAA isn’t new to offering compelling products that make their members’ lives easier — they were one of the first to allow their members the ability to deposit checks by simply taking a picture of them, something many banks are looking at now. And they consistently get some of the highest ratings in the industry for innovation and customer service.


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