Sci-tech

PayPal Offers An Easy Way To Pool Money For Those Holiday Gifts

Jacquelyn Byrd

10 November 2017, 05:23

With the holiday season just around the corner, PayPal has launched a new feature that makes it easier for users to pool money for gifts. Called Money Pools, the feature is exactly what it sounds like: a dedicated way to pool money, one that'll no doubt come in handy with the upcoming holiday season. We often have to pool money in order to gift something to a family member or a colleague and it can be hard to keep track to who has and hasn't paid, particularly if a lot of people are pooling money together.

You can personalize each money pool by setting a goal and a deadline, as well as typing in a description of what gift you're buying or what you're collecting money for.

You can also customize what you're pooling for by adding a cover photo and select whether names and contributions are set to public or private in the pool's activity feed. The feature is available now for anyone who has a PayPal account. The video demo shows the creator of a pool can choose to display the names and contribution amounts of each member, although contributors can hide their name or contribution from appearing in a common feed. If you were going to use PayPal anyway, then it wouldn't hurt having easy access to friends' contributions to make sure you don't go overbudget or spend your own money when you don't need to.

To use PayPal Money Pools, log in to your PayPal account on a web browser or mobile app and select "Your Pools" along the left side of the account homepage.

Most of the respondents in the company's holiday survey said they plan to shop from their mobile devices, and PayPal is likely hoping you'll use Money Pools if you go the phone shopping route. The pool can be shared on social media as well as through a direct link, enabling anyone with a link to contribute if they'd like.



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