GroupMe Updates App With Ability to Split Costs and Collect Payments from Friends

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groupmelogoGroupMe today updated their group chat app to version 4.1, adding a gallery view and a feature called Split, which allows users to split costs and collect money from their group.

The company detailed potential uses for the feature on its blog:

You can start a Split within any of your groups, just like you can attach a photo or a location. You bought concert tickets for everyone in the group? Attach a Split and get your money back right away, instead of waiting to get cash in person. Buying a group gift? Attach a Split with the total price, and with each person who chips in, the price per person will go down. Collect your money whenever you’re ready.

groupmesplit

Although the person who creates the Split is not subject to any fees, contributors to the Split will have to pay a 4% fee plus $0.99, which covers credit card processing fees and a small GroupMe convenience charge. However, GroupMe is waiving the fees from today, March 7, until the end of SxSW Interactive on March 12.

GroupMe is a universal app that's available in the App Store for free. [Direct Link]

Top Rated Comments

komodrone Avatar
103 months ago
Without trying the app or completely reading the article, here's what I think a typical conversation is going to look like:

Person 1: "hey guys, lets split the cost of gas. what's $60.06 / 3? gee, math is too hard, hey I know, how about let's all download this app."
(3 minutes later)
Person 1: "k guys, I'm inviting you to this group, did you accept?"

Person 2: "nah, sec, hold on...k downloaded. Nah I didn't get your invitation."

Person 1: "hold on, let me invite you again"

Person 2: "ah, got it. k I accepted"

Person 1: "k so...how much was it again? Oh yeah, $60.06. So let me put that in and we'll split it"

Person 2: "got it, hold on sec, let me input my credit card information"

Person 1: "yeah me too, sec..."

(3 minutes later)

Person 2: "got it, k paying now...WTF $0.99 cents + 4% charge? screw that I'll just pay you $20"
Score: 5 Votes (Like | Disagree)
komodrone Avatar
103 months ago
I can't wait to see what other apps Macrumors is going to report on!
Score: 3 Votes (Like | Disagree)
mattbisme Avatar
103 months ago
4% + 99 cents?
Paypal is cheaper.
Score: 2 Votes (Like | Disagree)
arn Avatar
103 months ago

Without trying the app or completely reading the article, here's what I think a typical conversation is going to look like:

Except, lots of people use the app already for group messaging (it's primary purpose).

That's like saying that if Apple were to come up with a payment option for their iPhone, this is how I see it going.

Store #1: That will be $49.95, you can pay by iPhone, or Credit Card or Cash?
Customer: iPhone? Ok, hang on.
...drives to Verizon...
Customer: I'd like to sign up for an iPhone
...30 minutes later....
...customer drives back to Store #1....
Customer: Here, I have an iPhone, can I pay?
Store #1: Who are you?

arn

(that said, the fees are high and would probably stop me from using it for that purpose)
Score: 2 Votes (Like | Disagree)

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