A new Venmo Groups feature makes it easy for family and friends to split bills, track shared holiday spending, or even sort out shared expenses for longer periods.
The PayPal-owned app says that there’s no longer a need to use third-party apps or spreadsheets to keep track of who owes what to whom …
The company announced the feature today.
Venmo today announced the introduction of Venmo Groups, a new in-app feature that lets users easily track, split, and manage multiple or ongoing expenses among groups like friends, family, roommates, partners, and more. Venmo Groups automatically calculates the individual amounts due based on the overall spend of each person in the group, reducing the need for spreadsheets, multiple apps or mental math to settle up.
PayPal says it is responding to a common request from Venmo users.
With a growing reliance on digital payments to split payments between friends and family, consumers are looking for simplicity and convenience when it comes to splitting multiple expenses in group settings.
“We know managing ongoing expenses in a group can be challenging, in particular when each member covers different costs with different amounts at different times,” said Erika Sanchez, Vice President and General Manager, Venmo. “As one of our most requested features, Venmo Groups offers a seamless solution for users to better track and settle shared expenses in group settings.”
How to use the Venmo Groups feature
First, ensure you’re using the latest version of the app.
- Tap on the Me button, bottom right
- Tap the Create a group link
- Invite users to join the group
Each person in the group can then tap the Add an expense button each time they spend money on behalf of the group. The app will then show who owes what, and enable each person to settle-up at any time.
As of last month, you can add Venmo debit and credit cards to the Wallet app for use with Apple Pay.
Image: Venmo
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