It’s intended for specific items or efforts among family and friends, similar to what Tilt let you do. To be clear, this is not open-ended, crowdsourced fundraising as you might have on GoFundMe or Kickstarter. (Without a PayPal account, you can’t use it.) Anyone who has a PayPal account in these regions can create a Money Pool, or contribute to one.
PayPal is launching the service today in 16 countries - Australia, Austria, Belgium, Canada, Denmark, France, Germany, Italy, Netherlands, Norway, Poland, Spain, Sweden, Switzerland, United Kingdom and the United States. The payments giant has now launched Money Pools, a service that lets people create pages to let their contacts fundraise for a specific item or event, such as buying a group gift, a group trip, or housemates paying the rent. PayPal has stepped into the fray in an attempt to provide its own answer. When Airbnb acquired and subsequently shut down Tilt - a platform that let people pool together to pay for items or events - many (including former Tilt employees) were left wondering what could and would replace it. PayPal has launched a crowdfunding-type version of Venmo, as the following article describes
Any questions relating to the offer will be resolved in PayPal’s sole discretion and its decisions related to the offer will be final and binding.Taking payments to where Venmo leaves off-that would be PayPal’s Money Pools. Offer is void where prohibited or if Eligible Participant’s account or transaction are fraudulent, abusive, not completed through legitimate channels, or irregular in any way. PayPal reserves the right to review any account or transaction related to this offer, in its sole discretion, without notice, and delay completion of the Reward. PayPal is not responsible and/or liable if any e-mail, Reward, or offer-related materials or correspondence are lost, fraudulent, abusive, stolen, late, incomplete, illegible, interrupted, delayed, altered, defective, misdirected, tampered with, or irregular in any way or if any participant’s e-mail address, Valid Account, or other contact information does not work, is deleted, or is changed without participant giving prior written notice to PayPal. Similar offers may run at the same time qualification for this offer does not constitute qualification for any other offer. PayPal reserves the right to cancel, suspend or modify this offer in part or in its entirety at any time without notice, for any reason in its sole discretion. PayPal may provide an alternate reward of equal value if it is unable for any reason to fulfill the Reward. Miscellaneous: Valid Account must remain in good standing from the time of participation through Reward fulfilment to redeem a Reward, as determined in PayPal’s sole discretion. If you do not have or open a PayPal Balance account, you can only transfer your Reward to your bank account or debit card linked to PayPal. You need to have a PayPal Balance account to have or use a balance. There is a limit of one (1) Reward per Valid Account. Reward will be added to the Eligible Participant’s Valid Account within approximately forty-eight (48) hours but may be available sooner. Reward: Once the steps described below are completed and verified, Eligible Participants will earn the $5 USD cash (“ Reward”). Offer may require Eligible Participants to sign in to their Valid Account.
How it works: To qualify for the Reward, Eligible Participants must click through the offer link associated with this Offer and claim the Reward. Offer Period: Starts at 12:00 a.m Eastern Time (“ET”) on Octoand ends at 11:59 p.m. personal or premier PayPal (“ Valid Account”) during the Offer Period (defined below) and (4) receive an authorized invitation to participate in the offer (eligibility for/those who receive such invitation will be determined solely by PayPal, a PayPal service) (“ Eligible Participant”) Offer Terms:Įligible Participant: Open only to residents of any one (1) of the fifty (50) United States or the District of Columbia who: (1) are eighteen (18) years of age or older (2) are holders of a U.S PayPal account in good standing or create a U.S. You need to have a PayPal Balance account to use your balance.