PayPal has recently introduced a new money pooling feature designed to simplify group expenses, making it easier for users to collect and manage funds for shared purchases such as gifts, travel, and events. This feature is available both through the PayPal app and website, and it allows users to create a pool, invite friends and family to contribute, and track the contributions. The service is being rolled out across several major markets, including the United States, Germany, Italy, and Spain , .

The new feature is free to use and aims to enhance PayPal's utility for collaborative financial transactions. Users can set up a pool, specify a fundraising goal, and manage contributions directly within the app. This initiative is part of PayPal's broader strategy to facilitate easier financial interactions among friends and family, particularly for group gifts and shared expenses , .

The feature is a reimagining of an earlier money pooling tool that PayPal had launched in 2017 but discontinued in 2021 due to competition from other services. This new version aims to address previous shortcomings and provide a more seamless experience for users looking to manage group expenses .