Cash App has debuted a new group payment feature that allows folks who don’t even use the app to contribute to a kitty. Pools enables Cash App users to invite folks to chip in for a large purchase (such as a group vacation) via Apple Pay and Google Pay. A small number of users have access to Pools at the jump, though Cash App owner Block expects to offer it to all of the service’s customers in the coming months. Block told CNBC this is the first time that Cash App is opening up to external payments from Apple Pay and Google Pay.
Through Pools, users can collect and track contributions from others via $Cashtags (for other Cash App users), or shareable links for Apple Pay and Google Pay. Users can start a pool through the Cash App, and set up a name and target amount. The organizer can close the pool whenever they like, move the money to their Cash balance and then use that to pay for whatever the group is planning to buy.
Pools is a seemingly handy feature that could assist Cash App in competing with Venmo by helping Block expand the app’s user base. It might help iOS and Android users who haven’t tried it out learn more about the app and decide to check it out. However, it’s perhaps worth bearing in mind that Cash App was subject to data breaches within the last few years. Block has also been fined over its handling of fraud on the platform.
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