PayPal has launched a new money pooling tool, allowing friends and family to easily share expenses for group purchases. Available in the US, Germany, Italy, and Spain, the feature enables users to set up a pool within the PayPal app or online, invite contributors, track payments, and transfer funds to their PayPal balance for spending or withdrawal.
PayPal’s Senior Vice President and General Manager of Consumer, John Anderson, expressed excitement about the tool, stating, “PayPal is committed to simplifying group purchases, from planning trips to group-funded gifts.” This no-cost solution aims to make managing both the social and financial aspects of group activities easier for users.
According to a 2024 PayPal survey, US consumers pooled money for group purchases approximately 86 million times in 2023, with popular use cases including shared travel, group gifts, and special event planning.
The service is free to use, and organizers can invite contributors regardless of whether they have a PayPal account. Funds can be transferred instantly to a PayPal balance or linked bank account, giving users flexibility in how they manage and spend their group contributions. This re-launch marks an evolution from an earlier pooling feature PayPal discontinued in 2021, now addressing key user needs by allowing non-PayPal contributors.