PayPal rolls out Pool Money feature to increase app engagement

The news: PayPal rolled out a feature called Pool Money to help customers manage shared expenses like group gifts and travel, per a press release.

• Users can set up a pool in the PayPal app or online with a description, target date, and goal amount and then share the pool link with friends and family via text, email, or other messaging services.
• Once collected, the money can be used directly in PayPal or sent to a linked bank account.
• The feature is available to customers in the US, Germany, Italy, and Spain and will launch in the UK soon.