Venmo is rolling out a new feature that will make dividing the bill even easier.
Announced Tuesday, Venmo Groups will help users track, split, and manage ongoing expenses between people for things like dinners, holidays, and household costs, all through the app.
The feature will automatically calculate individual amounts based on the number of people in the group. Venmo Groups are ongoing, which means expenses can be continuously added within groups. Users can create groups under the “Me” tab on the app.
It comes as surprising that Venmo has just now integrated the feature, considering it sits at the ethos of the PayPal-owned app. Friends and family have used it to make payments since its inception, with a social-media slant to it all. The app operates almost like a social network, with public posts, emojis, and interactions incorporated into the payment system.
Credit: Venmo
Erika Sanchez, vice president and GM at Venmo, said in a statement that this was amongst the “most requested features” by users. Sanchez called the feature a “seamless solution for users to better track and settle shared expenses in group settings.”
Venmo says that Groups will reduce the need for spreadsheets, mental math, or multiple apps — the latter acknowledging that the feature has the potential to put apps like Splitwise, SettleUp, and Splid on the defensive.
The feature is now available to select users, but will roll out to everyone in the coming weeks.
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A new feature from Venmo makes dividing expenses easier, directly competing with apps like Splitwise.
