Paytm: Good news for Paytm users. Paytm has introduced a new feature called Split Bills in its app, just in time for Friendship Day. This innovative tool is designed to help users track, divide, and settle shared expenses effortlessly among friends, family, or any group. Whether it’s for trips, dining out, shopping, or entertainment, this feature simplifies the management of group expenses.
With the Split Bills feature, users can create groups and add unlimited shared expenses without incurring extra fees. It allows for flexible division of costs, whether equally, by a set amount, or customized as needed. The app provides a clear overview of each person’s share, total expenses, outstanding balances, and a summary of recent transactions.
One of the standout aspects of this feature is the ability to settle payments instantly through Paytm UPI. The app automatically fills in the payment details, streamlining the process for users. Additionally, it offers payment reminders to ensure that no one forgets to pay their share, making group financial management even more convenient. Payments made using cash, cards, and various UPI apps will be documented.
The Split Bills function is not restricted to Paytm UPI only. Users can also log payments made with cash, debit or credit cards, different UPI apps, or any other payment method within the same group. If someone makes a payment outside the app, it can still be marked as ‘Settled,’ ensuring that all expenses within the group are tracked in one central location.
Instructions for using the Split Bills feature:
1. Open the Paytm app and navigate to the Pay Anyone section.
2. Choose the Split Bills option.
3. Create a new group or select an existing one.
4. Add contacts, a group name, and category (e.g., Trip, Home, Couple, Other).
5. Input expenses, specify the payer, and decide how the amount will be split.
6. The app will show the outstanding amount for settlement.