PayPal is expanding services for the sharing economy generation. It just announced it’s launching Money Pools, a platform where users can collect money from friends and family. Pablo Rodriguez, Senior Director of Global Consumer Initiatives at PayPal, says that a third of consumers will be pooling their money this holiday season. “Our mission for consumers is to help everyone move and manage their money,” he said, noting that the company is excited to launch the service for the holiday. He notes the growing trend of spending money on experiences, rather than gift items. “We know it can be a real hassle to pull that cash from our friends and our family,” Rodriguez says. “Money Pools allows you to do that.” Similar to crowdfunding sites, PayPal’s Money Pools allows people to share a link to their cause, collect money, and track and use funds. The company says the service is free to PayPal users, but will collect a “small fee” from contributors who make transactions with a debit or credit card.

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Small grocers and convenience stores feel an impact as customers go without SNAP benefits
Some small grocery stores and neighborhood convenience stores are eager for the U.S. government shutdown to end and for their customers to start receiving federal food aid again. Late last month, the Trump administration froze funding for the SNAP benefits that about 42 million Americans use to buy groceries. The U.S. Department of Agriculture says about 74% of the assistance was spent last year at superstores like Walmart and supermarkets like Kroger. Around 14% went to smaller stores that are more accessible to SNAP beneficiaries. A former director of the United Nations World Food Program says SNAP is not only a social safety net for families but a local economic engine that supports neighborhood businesses.
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