PayPal has rolled out a revamped feature allowing users to pool funds with friends and family for shared expenses.
This update is available in the U.S., Germany, the U.K., Italy, and Spain, arriving just in time for the holiday season.
The service lets users create a money pool via the PayPal app or website. Contributors can add funds directly, even if they don’t have a PayPal account.
Users can customize their pools by setting a title, description, target date, and optional goal amount.
A shareable link allows easy distribution via text, email, or messaging platforms.
The pool organizer can track contributions and transfer collected funds for planned expenses like travel or group gifts.
Unlike expense-splitting tools that handle post-payment sharing, this feature focuses on gathering funds before making purchases.
This marks PayPal’s second attempt at group pooling, following the closure of its “Money Pools” service in 2021.
The company’s renewed focus reflects a strategic push to simplify collective financial planning for its users.
