The Implications of Venmo’s Groups Feature on Bill-Splitting Apps

Starting today, Venmo is introducing a new feature called Groups, which allows users to manage and settle shared expenses within a group. This feature aims to simplify the process of determining how much each person owes and streamlines the payment process within the app. Users can easily add expenses and Venmo will automatically calculate the amounts due. The feature is designed for ongoing use, making it convenient for recurring expenses within the same group. To create a group, users can navigate to the Me page and access the Groups tab. The feature will be initially available to some users with the latest version of the Venmo iOS and Android app, with broader availability in the coming weeks. This new feature may pose a challenge to other services that only support managing shared expenses, prompting casual users of such apps to opt for Venmo instead.