Cash App users can now pool money for group payments — even with non-users

Cash App has unveiled a new feature known as "Pools," designed to facilitate collective payments among friends and family. Launched on Tuesday, this peer-to-peer payment option allows users to gather funds for shared expenses, such as dining bills, vacations, and group gifts. Initially rolled out to a select group of users, Cash App plans to expand this feature broadly in the coming months. Users can create a Pool via the payment tab by specifying a target amount and inviting others to contribute through their unique $cashtag. Additionally, they can send a link to non-users, enabling them to participate using either Apple Pay or Google Pay. The organizer of the Pool has the flexibility to close it at any time, transferring the accumulated funds to their Cash App balance. This feature's ability to include non-users is particularly noteworthy, as it encourages broader participation beyond the app’s existing user base. This launch comes at a pivotal time for Cash App, which is seeking to enhance its user engagement after experiencing lower-than-expected app usage. The company reported that its first-quarter gross profit did not meet projections. By introducing the Pools feature, Cash App aims to strengthen its competitive position against rivals like Venmo and PayPal, both of which already offer similar money-pooling functionalities.