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Split Payment Software : Fintech Apps to Share Expenses with Friends

Split Payment Software : Fintech Apps to Share Expenses with Friends

How do you quickly reimburse a friend who paid for the tour for the whole group at the bar? Or easily manage the purchase of gifts for a birthday? Discover some perfect applications to make the transactions smoother.

With friends, we usually share good times, and go out together for a drink, see a movie at the cinema or even play a game of bowling. All these hobbies have a cost, and often only one person pays for the others, in order to save time at the checkout. How to repay it without the extra hassle?

Stay tuned for the possibilities that await you…

Several developers who are perfectly aware of this need have imagined applications that are extremely simple to use. While it can be complicated to make a bank transfer (need to have the person’s bank details and register it on the bank app), these programs make it possible to settle debts easily. These can also be used to send presents to people, all without making a bank transfer. Those who have tried them usually can no longer do without them!

Split Payment Software : Splitwise

The free Splitwise app for Android and iOS is easy to use and has a wide range of features. With Splitwise, you can share, name, and record costs incurred individually, offset debts against each other, and send reminders to your friends for debt settlement. You can also receive regular reminders from the app if you owe money to your friends.

Splitwise combines all these functions into groups. You can add additional members by entering their phone numbers or email addresses so that they have direct access to them. Only if everyone can manage their own expenses and transactions will the network work in the long run.

However, the app requires registration and still lacks features. For example, the currency converter is only included in the paid Pro version (about €1). Also, you can’t add income, for example, if you withdraw money from the household budget. Unfortunately, there is also a lack of a function to pay debts directly via PayPal or other online payment services. It is also not possible to weigh the members of the group differently. Thus, all members must share the costs equally.

In summary: Splitwise is a solid application to share costs within a group, especially thanks to its simple interface. It is annoying, however, that currency conversion does not exist in the free version. Other free apps have integrated it at no extra cost.


Split Payment Software : Tricount

In order to find your way around when you go out together, Tricount presents itself as an extremely useful application: you create your event, you add all the participants and you enter each expense incurred, as well as the name of the person who paid each time.

Then, the application automatically calculates the money paid and the money due. Each person in the group knows where they are and if they need to repay anything.

Warning: Tricount is not designed to ensure equal spending. That is, you’re free to use the breakdown you want – and this can be especially handy if you’re paying for your whole family, and your friends are also paying for their children.

Split Payment Software : Lydia

On its official website, Lydia is presented as “The super-app for your money”. This allows you to receive money easily, but also to pay it instantly to your friends without their RIB, simply by having their phone number (or via QR Code).

With Split Payment Software Lydia, payments are made in seconds, and refund requests can also be sent very easily. The application allows you to create pots, which makes it a very complete solution for managing expenses with friends.

No more excuse to forget to refund a movie ticket or a game of billiards at the bar: with these applications, spending with friends is no longer a source of stress, and everything can be transparent between you.

Split Payment Software : Splid

“Split bills, not friendships” is their tagline which nicely explains Splid’s vision.

Split Payment Software Splid for Android and iOS is a rather lightweight tool compared to the competition, but worth mentioning because of its elegance. Here, settlements, costs, and debts are prepared quickly and clearly. The biggest advantage is the convenient conversion of the export file. It displays a printable summary that you can also send.

In practice, Splid has proven to be the fastest app when it comes to effectively creating small accounts. The group can be edited offline individually or published online. Then your friends can also manage the group.

Splid has extensive features and a very simple interface. The app is just as suitable for small groups and shared apartments as well as for holidays.

The app is free and ad-free, but you can only create one group with this variant. A pro version is available with two people (€1) or unlimited groups (€2).

In short: Splid is simple and effective to use. The export files for a complete overview are great and convenient. Unfortunately, the free version offers space for a single group, which can be changed for a reasonable fee.

Split Payment Software :Splittr (iOS only)

Split Payment Software Splittr, created by German developer Raphael Wichmann is, with its 100 MB, a heavyweight among cost-sharing applications. It attracts in particular for its multitude of features. Groups can be created for different occasions and groups of friends. The application calculates the debts between members, but also the debts of the whole group to a single person. With the Splittr app, you can share costs, but also manage expenses and create invoices quickly.

What’s really impressive is the wealth of statistics and spending analytics that the app can display. In addition to CSV support, exporting to PDF is also particularly noteworthy. The compensation algorithm also significantly reduces the number of processes required. The debt calculator works particularly well.

The app does not require registration and works offline, but also syncs data with all friends who use the same groups with Splittr. Splittr is compatible with all currencies, with an optional currency converter, so it is a particularly recommended program for holiday groups. It’s also convenient to divide expenses into categories, which makes invoicing even clearer.

In addition to the considerable file size, the major disadvantage is the lack of a built-in payment function, for example via PayPal. Using Splittr is free, but it is possible to upgrade to the premium version for around €4.50. While Splittr has been an iOS-exclusive app for years, the android version is currently under development.

In summary: if Splittr is not too heavy for you, it is the best cost-sharing application for iPhone. Android users will soon be able to enjoy Splittr, provided they have the necessary storage space and the app is well implemented.

To conclude…

“Do you pay together or separately” is a dilemma modern groups face in many settings. No matter what the decision, no one really wants to stay indebted or be of inconvenience.

If it is customary to divide the note according to the number of guests, it is sometimes complicated to do so when there are many and not everyone has eaten the same thing. Hence, bill-splitting apps have become this popular these days. However, the available apps are not attractive enough in the market as it is a growing trend. Hence, paying attention to the UI/UX design of these apps is crucial for both customer satisfaction and success.

If you are looking to get your own expense-sharing app developed with an aesthetic interface and smooth navigation, feel free to reach out to us.

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