PayPal has created a form of money transfer aimed at the social network generation. Called 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[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[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. 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 username, head to 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. can also be used by small businesses but the regular PayPal charges will come into effect.