PayPal provides digital group Checkout “Money Pool” before

PayPal provides digital group Checkout

(Picture: PayPal)

With the new offer, the financial institution will start a service for bundles of cash collections for common gifts, parties or group trips with friends. And of course, all participants need for a PayPal account.

The online financial service PayPal has launched a service called Money Pool. This is a kind of digital group fund for common gifts or travel. The initiator has a quick overview of his PayPal account about who has done what contribution. PayPal would thus for group gifts save the laying of the full amount and the usual walk-behind and remembering missing contributions or at least facilitate it.

To create the Money pools, the customer logs via web browser or PayPal app into his PayPal account and establishes a pool Money website. The name of the page ideally describes the purpose of the pool (birthday present for Elke, City Break Prague), the target amount and the date on which the money is to be merged. A descriptive text and an image can be added. In addition, you can set whether the names and amounts of the participants should be visible to all or just for the pool manager ..

Target tracking

And how could it be otherwise - to participate in a money pool, all Registered charging ends must have a PayPal account. The amounts transferred shall be collected on a sub-account of the initiator. All participants can follow on the website of the pool the level. If the target is reached, the amount to the normal PayPal account is transmitted and can be used.

The Money Pool Service is now accepting customers in Australia, Belgium, Denmark, Germany, France, Great Britain, Italy, Canada, Netherlands, Norway, Austria, Poland, Sweden, Switzerland, Spain and the USA.(Rop)