Venmo is rolling out a new feature that will make splitting the bill even easier.
Announced on Tuesday, Venmo Groups will help users track, split and manage ongoing spending between people for things like dinners, holidays and household costs, all through the application.
The feature will automatically calculate individual amounts based on the number of people in the group. Venmo groups are continuous, meaning expenses can be continually added within the groups. Users can create groups in the “Me” tab of the app.
It’s surprising that Venmo just integrated the feature, considering it builds on the spirit of the PayPal-owned app. Friends and family have used it to make payments since its inception, with a social media twist. The app works almost like a social networkwith public posts, emojis and interactions built into the payment system.
Erika Sánchez, vice president and general manager of Venmo, said in a statement that this was among the “most requested features” by users. Sánchez called the feature a “perfect solution for users to better track and settle shared expenses in group settings.”
Venmo says Groups will reduce the need for spreadsheets, mental calculations or multiple apps; the latter recognizes that the feature has the potential to put applications like dividedSettleUp and Splid on defense.
The feature is now available to select users, but will roll out to everyone in the coming weeks.