PayPal has rolled out Money Pooling, a new feature that allows customers to make group purchases.

The feature allows PayPal customers to collect and manage funds with friends and family for a variety of group expenses, including group gifts, travel and special events.

According to PayPal, consumers in the US pooled money for group purchases approximately 86 million times in 2023, with use cases including group-funded gifts, group travel, and special events like concerts or sporting events.

Users can create a group using the online PayPal application, invite other people to contribute, track group contributions, and transfer funds to their PayPal balance to spend or withdraw.

By selecting ‘Pool Money’ from the app menu or in the ‘Other Options’ menu of the ‘Send/Request’ tab, users can create a new pool and add a title, description, goal data and optional goal amount.

They can then share the link to their pool with friends and family via SMS, email or WhatsApp. Once the pool contribution is complete, users can press ‘Transfer’ from the pool's home page to wire the funds to their PayPal account.

Pool organisers can invite any friend or family member to contribute to their pool, regardless of whether or not they have a PayPal account.

The experience is currently available in the US, Germany, Italy and Spain.

“We're excited to introduce a simple, no-cost solution for collecting and managing funds for group purchases, helping our customers navigate both the social and financial aspects of their lives with each,” said John Anderson, general manager and senior vice president of Consumer at PayPal.

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