Payments company PayPal has announced a new feature that allows users to crowdsource funding for a personal life event, group purchase, or expense through their PayPal account.
The new feature, called Money Pools, allows a PayPal user to create a “page” for the expense in question, where friends and family can then send funds. The service, which was announced by PayPal on Friday, November 10, can be used to collect the money needed for a group trip, a family party, or even an ongoing expense like rent.
The feature is currently only available to PayPal account holders. The company has rolled out Money Pools to its users in 16 countries, including the U.S., the UK, and Australia.