PayPal has introduced a new feature enabling customers to pool funds with friends and family.

This no-cost solution is now available across the US, Germany, Italy, and Spain, aiming to simplify group contributions for various occasions.

A 2024 survey revealed that US consumers pooled money approximately 86m times last year for group-funded gifts, trips, and events, highlighting a strong demand for seamless financial tools to facilitate such activities.

The new pooling feature lets users set up a pool directly within the PayPal app or online. Once created, organisers can invite contributors, monitor contributions, and transfer funds to their PayPal balance for spending or withdrawal.

Contributions can be made free of charge using a PayPal balance or linked bank account, and even those without a PayPal account can participate.

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