Venmo Has The Right Idea To Make It HappenTheMerkle_Venmo
There are several payment system is existence that already allow users to split a bill in a convenient way. Venmo is one of those services that only requires a name – through a Facebook contact, for example – to send money to someone else. There is no email address, phone number, or even address linked to the recipient.
For privacy centric people, Venmo seems to make a lot of sense, as a name alone doesn’t tell one much about somebody’s identity. Papa John’s has seen the value in payment systems like Venmo, and introduced a concept of their own, called PayShare. As the name suggests, anyone can pitch in on the pizza.
Customers can come in as a group – small or large – and place their order at the Papa John’s restaurant of their choice. Once the order is placed, and the payment page comes up, there will be an option called “PayShare”. This is where users can then split the bill, either by letting everyone pay their share, or just dividing the total amount into equal values.
The person paying the order in full is responsible for selecting the friends they want to split the bill with, and will still have to pay the full amount upfront. However, that person’s friends will be notified immediately about the payment, and be sent a notice containing the amount they owe the person who paid for the pizza. All the friends have to do is hit “Accept”, and the funds will be deducted from their account.
Venmo offers a wide variety of payment methods, including bank accounts, debit cards, and credit cards. As receiving funds through Venmo is completely free of charge, it has become quite a popular payment solution among millennials. Plus, creating an account is quick, as all it takes is a username and password, as well as some personal info to receive payments.
http://themerkle.com/news/bitcoin-based-payment-splitting-solution-like-venmo-go-long-way/
