Venmo is rolling out a new feature that will make splitting the bill even easier.
Announced Tuesday, Venmo Groups will help users track, split and manage ongoing spending between people for things like dinners, holidays and household expenses, all through the app.
The feature automatically calculates individual amounts based on the number of people in the group. Venmo Groups are ongoing, meaning that expenses can be continuously added within groups. Users can create groups in the “Me” tab of the app.
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It’s surprising that Venmo just integrated the feature, given that it resides in the spirit of the PayPal-owned app. Friends and family have used it to make payments since the beginning, with a social media slant. The app works almost like a social network, with public posts, emoticons and interactions included in the payment system.
Erica Sanchez, VP and GM at Venmo, said in a statement that it was among 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 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 currently available to select users, but will roll out to everyone in the coming weeks.