Cash App launched a new peer-to-peer feature called Pools that lets users take group payments via Apple Pay and Google Pay — even if contributors don’t have Cash App themselves — marking the first time the company has offered out-of-network payments.
Pools allows users to create and manage a shared balance for group payments such as splitting a dinner bill or collecting funds for a trip, with only the fund organizer needing Cash App to create the money pool. Everyone else can be invited to contribute funds via shareable links sent by text message or e-mail.
There are currently no fees for using Google Pay or Apple Pay to contribute to a Cash App Pool for either the organizer or the contributor, as long as the payment is not made using a credit card. If a contributor is using a credit card, the fees will be displayed prior to submitting payment.
Cash App also noted in its terms of service that Pools cannot be used for commercial sales, political campaigns, cryptocurrency transactions, or for raising money for charities.
Pools are currently available to a select group of Cash App customers, with broader availability planned in the coming months.
The move reminds me of Instacart’s launch of Fizz app earlier this year, which lets users split the cost of food and drink delivery, even if they don’t have the app. I think it’s a brilliant way to bring new users into the Cash App ecosystem, and in general, I support features that bring interoperability between payment apps.
