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Cash App users can now pool money for group payments — even with non-users
Cash App's new feature lets users pool money with a group to pay for expenses like vacations and gifts.
Cash App launched a new peer-to-peer payment feature on Tuesday called “Pools” that allows users to pool money with friends or family members to pay for expenses like grocery bills, restaurant checks, vacations, and group gifts. The platform needs growth after reporting that consumers used the app less than expected, leading to a first-quarter gross profit that fell short of its projections. This move comes as Cash App seeks to compete with Venmo and PayPal, which both offer money-pooling capabilities.
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