Cash App is stepping up its peer-to-peer payment game with the launch of Pools, a new feature aimed at simplifying group payments. This marks the company’s first major P2P product release in nearly two years. Pools lets users create shared balances to collect money for things like splitting bills or group trips. What sets this apart is that contributions can now be made not only through Cash App but also via Apple Pay and Google Pay, allowing people who don’t use Cash App to participate by simply following a shared link.
The introduction of Pools is part of Cash App’s strategy to regain momentum amid intense competition with Venmo, which has recently posted strong growth. The feature focuses on expanding the network by making peer-to-peer payments more social and accessible. Cash App leadership sees every non-user who contributes through Pools as a potential new customer, driving the app’s growth. The rollout reflects a cultural shift within the company, with faster development cycles aided by AI tools. While Cash App continues to develop its banking and lending offerings, peer-to-peer payments remain central to its long-term growth plans. Pools is currently available to a select group of users, with a wider release planned soon.