Cash App Group Payments: Now Available for Everyone

Cash App Introduces Collaborative Payment Feature: “Pools”

Cash App has recently unveiled a new functionality designed for shared expenses. This peer-to-peer payment feature, named “pools,” enables users to collectively contribute funds with friends and family.

How Cash App Pools Work

The new feature facilitates the sharing of costs for various expenditures. Examples include shared grocery costs, restaurant bills, vacation expenses, and contributions towards group presents.

Initially, access to “pools” is being rolled out to a limited group of users. However, Cash App intends to broaden availability in the coming months.

Creating and Contributing to Pools

Pools can be initiated through the app’s payment section. A target amount is established by the creator, and participants are invited to contribute.

Invitations can be sent using a user’s unique $cashtag. Alternatively, a shareable link can be texted to individuals who do not currently have the Cash App installed.

Non-users can conveniently participate in pools using Apple Pay or Google Pay via the provided link.

Pool Management and Fund Transfer

The individual who created the pool retains control and can close it at any time. Upon closure, the accumulated funds are transferred directly to the organizer’s Cash App balance.

Strategic Implications for Cash App

The acceptance of contributions from users without existing Cash App accounts is a noteworthy aspect. It broadens participation and potentially attracts new users to the platform.

This launch occurs as Cash App aims to bolster user engagement. Recent reports indicated lower-than-anticipated app usage, resulting in a first-quarter gross profit that did not meet projected figures.

Competition in the Peer-to-Peer Payment Market

Cash App’s introduction of “pools” positions it to directly compete with established players in the peer-to-peer payment space. Both Venmo and PayPal currently offer similar money-pooling functionalities.