PayPal has created a form of money transfer aimed at the social network generation. Called PayPal.me it provides an easy to share URL that leads to a safe and secure, easy person to person payment page.

Each user registers for their own URL, which will take the form of paypal.me/[username] and this can be sent to family and friends. When clicked it takes them to a simple dedicated wed address that they can use to pay a certain amount to the URL owner.

Alternatively, the URL can be expanded by the amount to pay in pounds automatically, such as paypal.me/[username]/10 to pay £10 to the account holder. The payee still has to go through the payment process, so there's no way to accidentally pay money on a single click, but it will ensure the correct amount is paid.

PayPal claims that an estimated £3.2 billion of casual borrowings and debts between friends, family and colleagues remained unpaid last year. PayPal.me is designed to help the lender recover the money in a less socially awkward way - no more of that, "sorry, I don't have the cash on me."

To sign up to the service and get your unique PayPal.me username, head to www.paypal.me and follow the instructions. You will also need to sign up for a regular PayPal account if you don't already have one.

Payments will incur no charges if using PayPal balance, bank transfers or debit cards. There is a small charge when paid via credit card.

PayPal.me can also be used by small businesses but the regular PayPal charges will come into effect.

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