Paytm (One 97 Communications Ltd), a leading financial services distribution company and pioneer of mobile payments, has launched Paytm Split Bills on its app ahead of Friendship Day, enabling users to easily manage and settle shared expenses.
The feature is aimed at friend groups, college students, Gen Z and young professionals, helping them track expenses for road trips, birthday celebrations, weekend outings, movie nights, food orders, shopping and other group activities.
Shared expense management
Users can create a group, add expenses and split bills equally, by exact amount, shares or percentage.
The app provides a consolidated summary of total spending, individual shares, pending balances, amounts to pay or receive and recent activity.
Payment reminders can be sent directly through the app, while dues can be settled using Paytm UPI with the payment amount and recipient details pre-filled.
No-cost feature
Paytm said Split Bills allows unlimited expense entries without any charges, paid upgrades or usage limits.
Expenses made through Paytm UPI, other payment apps, cash, cards or any other payment mode can be recorded in the same group, while settlements made separately can also be marked as received.
Leadership comment
“Shared moments should be remembered, not spent calculating who owes whom. Paytm Split Bills gives friends a simple way to manage group expenses and settle dues through Paytm UPI, while helping us build Paytm as a financial life app for India,” said Paytm spokesperson.
Financial life app
The launch expands Paytm’s financial life app proposition by combining payments and money management on a single platform.
The app also offers features such as spend summary, hide payments, UPI statement download and home screen widgets for quicker access to UPI payments.
Users also earn Gold Coins on every payment, which can be redeemed for real gold.