Hi, would it be possible in a URL field to have the option for the user to enter some text to display instead of the full url - in the same way as with links in Numbers, Pages, Word etc.?

You could set a formula field "On click" event to openURL(URL) and its "Formula" to 'URL Name' and then hide/show field(s) based on some condition. However, a new "Show link as" property in the URL field would be better.