PayPal announced on November 14, 2024, a new money pooling feature designed to simplify group expenses for friends and family. This feature allows customers to easily collect and manage funds for shared costs such as group gifts, travel, or special events.
The new experience is rolling out globally across the U.S., Germany, Italy, and Spain. Users can set up a pool for free within the PayPal app or online and invite others to contribute using their PayPal balance or a linked bank account.
Pool organizers can track contributions and transfer collected funds to their PayPal balance for spending or withdrawal. This enhancement aims to make social and financial interactions easier for PayPal's customer base.
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