PayPal today announced the rollout of a new money pooling feature designed to simplify group payments for shared expenses, gifts, and events. The service is being launched across four major markets: the United States, Germany, Italy, and Spain.
The new functionality, available both through the PayPal app and website, enables users to create shared pools where friends and family can contribute funds for collective purposes. According to PayPal’s 2024 survey data, U.S. consumers utilized group payment solutions approximately 86 million times last year, primarily for shared gifts, travel expenses, and event tickets.
“Everyday life is all about connections, whether it’s chipping in for a group gift or planning a trip with friends and family. PayPal understands this and aims to make those moments easier,” said John Anderson, GM, SVP of Consumer at PayPal. “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.”
The new feature includes several notable benefits:
- Free pool creation and contributions using PayPal balance or linked bank accounts
- Ability to invite contributors regardless of whether they have a PayPal account
- Instant transfer options to PayPal balance or linked bank accounts
- Enhanced security with 24/7 fraud monitoring and advanced encryption
To use the new pooling feature, customers can access it through the PayPal app’s menu or the “Send/Request” tab’s “More Options” section. The setup process involves creating a pool title, description, target date, and optional goal amount. Users can then share their pool link through various communication channels including text, email, and WhatsApp.
The platform maintains PayPal’s commitment to security, incorporating the company’s standard protection measures for peer-to-peer transactions. This rollout represents PayPal’s latest effort to streamline group payment solutions while maintaining their robust security standards.
For users interested in standard money transfers, PayPal continues to offer its traditional peer-to-peer payment service through the app’s “Send/Request” tab, allowing for quick and secure money transfers between individuals.
Here is a table showing how you can access it
| Feature | Money Pool |
|---|---|
| Location in App | • “Pool Money” from App Menu OR • “More Options” in “Send/Request” tab |
| Step 1 | Select “Pool Money” to create pool |
| Step 2 | Enter pool details: • Title • Description • Target date • Optional goal amount |
| Step 3 | Share pool link via: • Text • Email • WhatsApp • Other platforms |
| Step 4 | Friends/family contribute through link |
| Step 5 | Press “Transfer” to move funds to PayPal balance |
| Cost | Free with PayPal balance or linked bank account |
| Availability | US, Germany, Italy, Spain |
| Key Benefit | Ideal for group collections and shared expenses |
