Rolling out globally across the US, Germany, Italy and Spain, the new experience gives customers the ability to set up a pool in the PayPal app or online, invite friends and family to contribute, track group contributions and transfer funds to their PayPal balance to spend or withdraw."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," says 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 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.The new feature is a reimagining of an earlier money pooling tool that was first launched in 2017 and then summarily shut down in 2021 in the face of a number of competing alternatives that didn’t require all contributors to be PayPal users - an important lesson which the new service overcomes.