PayPal's version of GoFundMe is called Generosity Network

PayPal has launched the Generosity Network, a platform that allows users to create customized, personal fundraising campaigns. Yes, just like you can on GoFundMe.

You can raise a maximum of $20,000 over a 30-day period, which is how long a campaign remains open. Besides opening campaigns for yourself, you can also start a campaign to support a small business, friend, or charity.

Campaigns are simple to create and require going through a few steps on the PayPal website. Donations are deposited into the organizer's PayPal account, and can then be distributed further.

The new feature comes at a time when many are struggling with unemployment or reduced income, due to the COVID-19. PayPal says the feature has been inspired by the rising popularity of peer-to-peer crowdfunding, which was further accelerated by the pandemic.

"The Generosity Network was designed to provide an accessible, easy and secure way for our customers to raise money on behalf of causes, and connect them with millions of PayPal customers who can offer their support this holiday season and beyond," Oktay Dogramaci, VP of Giving at PayPal, said in a statement.

Some conditions apply. To create a campaign, your account with PayPal must be in good standing, and you may be asked to verify your identity. You can only have one campaign per account at any time. Finally, the Generosity Network is currently only open to customers from the United States.

If you're interested in donating, you can go to the Generosity Network website and search for existing campaigns, either by zip code or through a list of categories such as business, medical help, the environment, social activism, memorial expenses, and more.