Cash App introduces ‘Pools’ feature allowing group payments with non-users via Apple Pay or Google Pay

Cash App has rolled out a new feature called ‘Pools’ which allows users to pool money together for group payments like shared bills, vacations, and group gifts. Initially available to select users, the feature will be expanded in the coming months. Users can create a pool by setting a target amount and invite contributors either through their $cashtag or by sending a link that non-users can use to contribute via Apple Pay or Google Pay. This addition is significant because it allows non-Cash App users to participate in pooling money, which is a move to boost user engagement amid concerns over growth. This feature comes as Cash App seeks to compete with other platforms like Venmo and PayPal, both of which offer similar capabilities. The introduction of this feature is also important because Cash App recently reported lower-than-expected usage, impacting its first-quarter gross profit. With the rise of mobile payments, Cash App aims to attract more users to its platform, providing a more seamless way to handle shared payments.