PayPal Unveils Innovative Money Pooling Feature, Simplifying Group Expenses Between Family and Friends
PayPal has launched a new money pooling feature that enables customers to collect and manage funds with friends and family for group purchases. The feature is rolling out globally across the US, Germany, Italy, and Spain, allowing users to set up pools through the PayPal app or online at no cost. According to a 2024 PayPal survey, US consumers pooled money approximately 86 million times last year for purposes like group gifts, travel, and special events.
The feature includes options to set pool targets, invite contributors (even those without PayPal accounts), track contributions, and transfer collected funds to PayPal balances. The service is protected by 24/7 fraud monitoring and advanced encryption for secure transactions.
PayPal ha lanciato una nuova funzione di raccolta fondi che consente ai clienti di raccogliere e gestire soldi con amici e familiari per acquisti di gruppo. Questa funzione è in fase di distribuzione a livello globale negli Stati Uniti, in Germania, in Italia e in Spagna, permettendo agli utenti di creare fondi tramite l'app PayPal o online senza costi. Secondo un sondaggio di PayPal del 2024, i consumatori statunitensi hanno raccolto denaro circa 86 milioni di volte lo scorso anno per scopi come regali di gruppo, viaggi ed eventi speciali.
La funzione include opzioni per impostare obiettivi di raccolta, invitare contribuenti (anche coloro che non hanno account PayPal), monitorare i contributi e trasferire i fondi raccolti nel saldo PayPal. Il servizio è protetto da un monitoraggio antifrode 24/7 e da crittografia avanzata per transazioni sicure.
PayPal ha lanzado una nueva función de agrupación de dinero que permite a los clientes recoger y gestionar fondos con amigos y familiares para compras grupales. La función se está implementando a nivel mundial en EE. UU., Alemania, Italia y España, permitiendo a los usuarios crear fondos a través de la app de PayPal o en línea sin costo alguno. Según una encuesta de PayPal de 2024, los consumidores de EE. UU. agruparon dinero aproximadamente 86 millones de veces el año pasado para propósitos como regalos grupales, viajes y eventos especiales.
La función incluye opciones para establecer objetivos de agrupación, invitar a colaboradores (incluso aquellos sin cuentas de PayPal), rastrear contribuciones y transferir los fondos recaudados a los saldos de PayPal. El servicio está protegido por monitoreo antifraude 24/7 y encriptación avanzada para transacciones seguras.
PayPal은 고객이 친구와 가족과 함께 그룹 구매를 위해 자금을 모으고 관리할 수 있는 새로운 머니 풀링 기능을 출시했습니다. 이 기능은 미국, 독일, 이탈리아 및 스페인을 포함하여 전 세계적으로 출시되고 있으며, 사용자가 PayPal 앱이나 온라인에서 무료로 풀을 설정할 수 있도록 허용합니다. 2024년 PayPal 설문조사에 따르면, 미국 소비자들은 지난해 그룹 선물, 여행 및 특별 이벤트와 같은 목적으로 약 8,600만 번 자금을 모았습니다.
이 기능에는 풀 목표 설정, 기여자 초대(심지어 PayPal 계정이 없는 사람도 포함), 기여 내용 추적, 모은 자금을 PayPal 잔액으로 이전하는 옵션이 포함되어 있습니다. 이 서비스는 24시간 7일 사기 모니터링과 안전한 거래를 위한 고급 암호화로 보호됩니다.
PayPal a lancé une nouvelle fonction de mise en commun d'argent qui permet aux clients de rassembler et de gérer des fonds avec des amis et de la famille pour des achats de groupe. Cette fonction est déployée à l'échelle mondiale aux États-Unis, en Allemagne, en Italie et en Espagne, permettant aux utilisateurs de créer des pools via l'application PayPal ou en ligne sans frais. Selon une enquête PayPal de 2024, les consommateurs américains ont mis en commun de l'argent environ 86 millions de fois l'année dernière pour des objectifs tels que des cadeaux de groupe, des voyages et des événements spéciaux.
La fonction comprend des options pour définir des objectifs de collecte, inviter des contributeurs (même ceux sans compte PayPal), suivre les contributions et transférer les fonds collectés vers des soldes PayPal. Le service est protégé par une surveillance antifraude 24 heures sur 24 et 7 jours sur 7 ainsi qu'un cryptage avancé pour des transactions sécurisées.
PayPal hat eine neue Geldpooling-Funktion eingeführt, die es den Kunden ermöglicht, gemeinsam mit Freunden und Familie Geld für Gruppenkäufe zu sammeln und zu verwalten. Die Funktion wird weltweit in den USA, Deutschland, Italien und Spanien eingeführt und ermöglicht es den Nutzern, Pools über die PayPal-App oder online kostenlos einzurichten. Laut einer PayPal-Umfrage aus dem Jahr 2024 haben US-Verbraucher im letzten Jahr etwa 86 Millionen Mal Geld gesammelt, unter anderem für Gruppengeschenke, Reisen und besondere Anlässe.
Die Funktion umfasst Optionen zur Festlegung von Pool-Zielen, zur Einladung von Mitwirkenden (einschließlich solcher ohne PayPal-Konten), zur Verfolgung von Beiträgen und zur Übertragung gesammelter Gelder auf PayPal-Guthaben. Der Dienst ist durch eine 24/7-Betrugsüberwachung und fortschrittliche Verschlüsselung für sichere Transaktionen geschützt.
- New revenue stream potential through increased user engagement
- Expansion into group payment market with 86 million annual transactions
- Global rollout across multiple major markets (US, Germany, Italy, Spain)
- Zero-cost feature encouraging user adoption
- No immediate monetization strategy for the new feature
- Potential competition from existing group payment solutions
Insights
The new money pooling feature represents an incremental enhancement to PayPal's consumer offerings but is unlikely to significantly impact revenue streams or market position. While addressing a genuine consumer need with 86 million group purchase instances in the US last year, this feature primarily defends against competitors like Venmo (which PayPal owns) and Cash App rather than opening new revenue channels.
The strategic value lies in increasing user engagement and app stickiness, potentially reducing customer churn. However, the free nature of the service and focus on existing peer-to-peer infrastructure means minimal direct revenue impact. The international rollout across major markets (US, Germany, Italy, Spain) demonstrates PayPal's commitment to feature parity across regions but doesn't represent a transformative growth catalyst.
PayPal customers can easily collect and manage funds with friends and family for things like group gifts, travel, special events, and more in the PayPal app.
"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."
According to a 2024 PayPal survey, consumers in the US pooled money for group purchases approximately 86 million times last year with some of the popular use cases being group-funded gifts, group travel, and special events like concerts or sporting events.
Customers can set up a pool for free in the PayPal app and contribute to an existing pool at no cost using their PayPal balance or linked bank account. Pool organizers can invite any friend or family member to contribute to their pool, whether they have a PayPal account or not. Pool organizers will also be able to transfer the collected funds to their PayPal balance and instantly spend with PayPal or transfer funds to a linked bank account.
PayPal helps customers send money and pool funds with peace of mind. Peer-to-peer transactions are protected by 24/7 fraud monitoring and advanced encryption that keeps transactions guarded from start to finish.
How to Set Up a Pool in the PayPal App
Customers can set up a pool by following a few simple steps in the PayPal app.
- Select "Pool Money" from the App Menu or in the "More Options" menu from the "Send/Request" tab to start creating your pool
- Enter a title, description, target date, and optional goal amount
- Share your pool link with friends and family via text, email, WhatsApp and more
- Your friends and family can contribute directly to the pool through your link
- Whenever you're ready, press "Transfer" from the Pool home page to transfer your funds to your PayPal balance
The new experience is now rolling out to customers across the US,
How to Send Money to Friends and Family in the PayPal App
PayPal makes it easy to send and receive money with friends and family this holiday season with a few easy steps in the PayPal app.
- Navigate to the "Send/Request" tab
- Enter the recipient's name, PayPal username, email, or mobile number.
- Enter the amount of money you want to send and choose a currency. Make it personal by adding a note, animations and more.
- Review your transaction details and choose "Send."
About PayPal
PayPal has been revolutionizing commerce globally for more than 25 years. Creating innovative experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal empowers consumers and businesses in approximately 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.
CONTACT: Reema Nimkar, rnimkar@paypal.com
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SOURCE PayPal Holdings, Inc.
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