PayPal and Capital One launch bundled banking app

US-based financial corporation Capital One has teamed with PayPal to launch One banking app, aimed to bundle spending, saving and lending into a single account and debit card.

Users can create pools of money called “pockets” for any spending or savings goal and share these buckets with others. This system is meant to be simpler than signing up for a joint bank account and more convenient than repeatedly transferring money through a peer-to-peer payment service.

Read more: The Paypers