It’s called Venmo Groups, and the feature is being rolled out to select Venmo customers beginning Wednesday.
The in-app feature allows users to easily track, split, and manage multiple or ongoing expenses among a group, Venmo said.
Say goodbye to the spreadsheet – Venmo Groups does the calculating automatically for you.
"As one of our most requested features, Venmo Groups offers a seamless solution for users to better track and settle shared expenses in group settings," said Erika Sanchez, Vice President and General Manager, Venmo.
How does Venmo Groups work
Venmo users will have access to the Groups feature through their "Me" page.
Under the "Groups" tab, users can create a group. Once a member of a group, individuals can add expenses and settle up in just a couple taps.
Everyone in the group can add a transaction, instead of relying on one person to track all expenses.
Venmo Groups are also ongoing and last longer than the duration of your event.
Venmo says Groups will be widely available in the coming weeks.
This story was reported from Detroit.