PayPal introduced PayPal.Me, a free, simple, and personal way to request money from people. Canadians can now grab their personalized PayPal.Me link to send to friends, family and coworkers for a hassle-free way to collect on IOUs and avoid awkward money conversations. This safe link works on any device across text messages, email, instant messenger and social media platforms. Recipients click the link on any Internet-enabled device they are on, enter the amount owed, and the money is instantly transferred to the PayPal account of the person they owe money to.

A recent PayPal Money Habits Study sheds new light on people's attitudes and behaviours towards money. In a survey of 4,000 people across Canada, Germany, Australia and the U.S., the study found that Canadians are owed $462 (CAD) on average and 30 per cent have lost a friend over IOUs. A driving reason is discomfort around financial conversations; more than 53 per cent of Canadians find it awkward to ask their friends or family to pay them back.

The study also found that digital wallets continue to gain popularity with one third of respondents preferring a digital wallet to a real one. Most Canadians hate carrying a cheque book (86%). While cash still rules, mobile payments are on the rise with peer-to-peer (P2P) payments increasingly popular for IOUs.

"As money becomes more digital and mobile, people need greater flexibility to manage their money. It's simple–we all want a no-fuss way to get paid back, and avoid awkward IOU conversations," said Kerry Reynolds, Head of Consumer Marketing at PayPal Canada. "PayPal pioneered sending money digitally 16 years ago, and we continue to lead the way with our P2P offerings."

Why don't people ask for their money back? Awkward!!
Bottom line – money is an uncomfortable subject and it takes a lot of time to chase down debts. More than half the people surveyed across the four countries find it awkward to ask their friends or family members to pay them back, and 54 per cent of Canadians admitted they felt embarrassed asking friends to spot them cash.

"People are more willing to discuss their sex lives than their finances," said Dr. Ryan Howell, Associate Professor of Psychology at San Francisco State University and an expert on the psychology of spending. "Money is still considered an incredibly private, personal topic for many people due to deep-seated cross-cultural stigmas around money."

Not only do most people feel anxiety in bringing up IOUs, nearly 50 per cent of people across the four countries never get paid back because they are too uncomfortable bringing up the subject. But letting these debts go can have real fiscal and social consequences.

Are a few small debts really a big deal? Actually, yes.

Small, unpaid debts between friends may seem easy to forgive when hoping to avoid awkward conversations, but they can leave a sizable hole in consumers' wallets. According to PayPal's study, adults around the world are owed a global total of $51 billion (US).

That's a pretty steep financial cost, but the greater one comes to people's health and happiness – nearly one-third of Canadians have lost a friend or ruined a family relationship over debt. Dr. Howell explains that social connections are not just a nice-to-have, they are a must-have for our emotional well-being.

Digital P2P Payments are Poised for a Takeover

With P2P payments providing the option to avoid wasting time to chase down debts or deal with friendships going sour over money, the vast majority people around the world are looking forward to foregoing having to rustle up cash or pull out a chequebook when it comes to splitting a restaurant bill or pitching in for a group gift.


With PayPal.Me, Canadians can now start collecting money owed in three simple steps:


  • Share your personalized PayPal.Me link in a text, over email, instant messenger, social media post, blog, or on the web.
  • Recipients click the link on any device no matter what mobile phone, tablet or computer they are using.
  • Recipients enter the amount, hit send and the money is immediately transferred into the recipients' PayPal account.

Starting today, anyone or business in the following 18 countries can create their personalized PayPal.Me link – Australia, Austria, Belgium, Canada, Denmark, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, Turkey, U.K. and the U.S.