Venmo has launched a new in-app receipt scanning feature that automatically splits bills among users. The feature scans receipts, itemizes costs, and calculates each user's share including tax and tips. It compiles these into a payment request within the same app.
The rollout begins immediately and will be widely available in a few weeks. This development puts pressure on users of competing apps like Cash App, Apple Cash, and Zelle. The feature follows the 2023 launch of Venmo Groups, which handles longer-term expenses like rent and subscriptions.
As Venmo General Manager Alexis Sowa stated, "Splitting the bill is one of the most common things people do on Venmo, but it can also be one of the most tedious." The receipt scanning feature eliminates the need for manual math with a single photo. While the feature works across all mobile devices, it strengthens Venmo's position against rivals who are already within the payment ecosystem.
Source: Engadget · Summarized by HeadlinesBriefing