Paypal wants to "overcome the awkwardness of asking to be paid back" when you lend someone money or split a bill, by creating a link-sharing scheme tied into a personalised domain that lets you ask anyone with outstanding debts to click on a link -- as they would a link to a funny video of a dog -- and send you money.
If you already have a Paypal account it's all ready to go today. Clicking on the Paypal.me link takes you to a signup page where you choose your username and have it auto-associated with your existing Paypal account, and that's it. Someone then visiting the domain paypal.me/yourname is then presented with a simple web page that lets them type the amount, change currencies and send it off. Quids in.
Paypal.me is basically a link-sharing tool coupled with a payment engine, one that takes the pain out of logging in and sending someone money by pre-populating all that boring stuff and directing someone straight to the business end of the transaction. The recipient pays the commission as is the usual way when bunging money about through Paypal's servers, so there is something in this payment technique for the payment company. [Paypal.me]