Australian fintech Groupee has launched what it calls the world's first real-time payment app that allows groups to share the cost of a purchase, like a meal, gift, tickets or other items. 

The fintech uses a prepaid Visa card that can be embedded in a smartphone to enable groups to share the cost of purchases among multiple users. 

"In 2019, people don't want to pay for their friends, simple as that," Jarred Baker, CEO of Groupee, told Mobile Payments Today via email. "People do want to be able to share experiences with each other."

Groupee launched in 2016 as an app focused on splitting the bill at restaurants, but has evolved to allow groups to split the bill for different types of purchases. 

The app can be used on any phone or bank in Australia. The app is not currently available in other markets, but the company does have plans to expand overseas. The app is currently available for download on the App Store for iPhone, however, it will soon be available on Google Play for Google Pay and Samsung Pay mobile wallet users.

Cover image: Groupee.