PayPal is an online payment system that allows you to send and receive payments safely and securely online.
The global company is launching a new fund pooling feature in its online and app accounts aimed at “simplifying” group payments for things like group gifts, travel and special events.
The new feature is free to create in the Paypal app or online account and allows customers to set up a pool and invite friends and family to donate, whether or not they have a PayPal account, Financial Services said.
We're introducing a new P2P experience, giving customers an easy way to pre-pool money with friends and family in the PayPal app for things like group gifts, travel, special events, and other shared expenses.
Details: https://t.co/oHktpKURYf pic.twitter.com/Ue7UC2voV9
— PayPal (@PayPal) November 14, 2024
“Everyday life is all about connection, whether it's buying gifts for a group or planning a trip with friends and family. PayPal understands this and aims to make those moments easier. ” said John Anderson, general manager and senior vice president of consumer affairs. PayPal.
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“We are excited to introduce this simple solution for collecting and pooling money, making it easier for all of us to navigate both the social and financial aspects of life. Masu.”
Customers can track their donations, and organizers can transfer funds to their PayPal balance to spend or withdraw to a bank account.
PayPal isn't the only payment provider offering such a service, Monzo also offers a similar service.
