For Android users: How to split bills on Paytm
What's the story
Splitting bills with friends or family doesn't have to be a headache anymore, thanks to Paytm on Android. This digital wallet app lets you split expenses with ease and makes sure everyone pays their fair share on time. Whether it's for a meal out, a trip with friends, or sharing costs at home, Paytm offers a hassle-free way to manage shared expenses without any confusion.
Account setup
Setting up your Paytm account
To start splitting bills with Paytm, you first need to create your account. Download the app from the Google Play Store and sign up with your mobile number. After signing up, link your bank account or load money into your Paytm wallet for hassle-free transactions. Make sure to complete the necessary identity verification as prompted by the app for security reasons.
Group creation
Creating a group for bill splitting
Paytm lets you make dedicated groups for bill splitting. How cool is that? Head over to the "Split Bill" option in the app, and choose "Create Group." Add members by picking contacts from your phonebook who are also on Paytm. This way, you can keep a tab on shared expenses, and there is transparency among all members.
Bill initiation
Initiating a bill split
Once your group is created, start a bill split by inputting the total cost of the expense. Indicate how you want to split it—either evenly among all members, or adjust each person's share if necessary. The app will automatically compute each member's payment, and notify them of the amount they owe.
Payment tracking
Tracking payments and settlements
Paytm records all payments made within the group, ensuring transparency about who has paid what amount. Members can settle their dues directly through the app using their linked bank accounts or wallet balance. This feature removes any ambiguity about outstanding payments and facilitates the maintenance of clear records of all transactions.
Expense management
Managing multiple expenses efficiently
If you are dealing with multiple shared expenses at the same time, Paytm lets you keep track of them without getting everything jumbled up. You can see detailed summaries of each group's activities under separate tabs in the "Split Bill" section, making it easy to manage different financial commitments at once without any confusion.