Tech

PayPal discontinues the group cash register “Moneypool”

The US payment service PayPal is discontinuing its service for group checkouts called Moneypool on November 8, 2021. Paypal announced in an email to users that no new money pools could be set up by September 30th. Previously created group registers remained active until October 30th at the latest and then ended automatically. If you have collected money, you have until November 8th to transfer the amount.

Paypal will then credit any remaining credit to the account of the person who set up the pool. If you want to save the list of people who have contributed to a pool, you should do so before November 8th. more details run the FAQ on the discontinuation of the service.

With the Moneypool introduced in 2017, money collections for joint gifts, parties or group trips with friends could be bundled on a separate page. But you could only take part with your own PayPal account. As a reason for the end of the service, PayPal stated that they wanted to concentrate more on “specialized services for collecting money”. Anyone who wants to receive money can, for example, generate payment links via Paypal.me in the future.


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