Expensify Unveils Personal Payments and Bill Splitting for Everyone

Rhea-AI Summary

Expensify announces its entry into personal payments with the launch of a new app that allows users to send and receive money, split bills, and chat all in one place.

Positive

• Expensify's new app provides users with a seamless way to manage their personal finances and collaborate with groups, which could attract more users and drive growth for the company.

Negative

• None.

The spend management app now lets anyone send and receive money, split bills, and chat all in one place.

LAS VEGAS--(BUSINESS WIRE)-- Expensify, Inc. (Nasdaq: EXFY) announced its foray into personal payments today, with functionality that allows anyone to send and receive money, split bills between individuals and groups, and chat, all within the New Expensify app. As an industry leader, the company has taken nearly 15 years of experience building market-leading business expense management technology and expanded it into the consumer payments space. The result: an app that transitions seamlessly between home and office.

“Expensify is now the financial superapp for your work and personal life, all based atop chat,” says David Barrett, founder and CEO of Expensify. (Graphic: Business Wire)

“Expensify is now the financial superapp for your work and personal life, all based atop chat,” says David Barrett, founder and CEO of Expensify. “It’s a consumer-grade lovechild between WhatsApp, Venmo, and Splitwise, that scales seamlessly up to enterprise-grade receipt scanning, expense reports, and corporate cards.”

Groups of all types can now use Expensify for financial collaboration, including roommates, student orgs, church groups, neighborhood associations, professional societies, and of course, friends.

“Let’s say you’re planning a trip with friends,” Barrett continues. “You start a group chat in New Expensify and decide to book an Airbnb. After it’s booked, you scan the receipt into the same chat, split it between everyone, and the money requests fire off automatically. Your friends pay you back in the app as well, so you’re all settled up in a few taps. Next is groceries, gas, and so on, maybe even scattered across multiple currencies, with everything converted back to a single currency and handled as part of the same conversation.”

Expensify is testing out an early version of bill splitting in New Expensify at the Money20/20 conference in Las Vegas this week. The company will reimburse groups of attendees who use the app to split their bill for dinner or drinks (up to a capped amount). Conference-goers can stop by booth 12013 at Money20/20 to chat with the Expensify team and activate the promotion.

Learn more about New Expensify, or sign up to give it a try today.

About Expensify

Expensify is a payments superapp that helps individuals and businesses around the world simplify the way they manage money. More than 12 million people use Expensify's free features, which include corporate cards, expense tracking, next-day reimbursement, invoicing, bill pay, travel booking, and chat in one app. All free. Whether you own a small business, manage a team, or close the books for your clients, Expensify makes it easy so you have more time to focus on what really matters.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231023197944/en/

James Dean, press@expensify.com

Source: Expensify, Inc.

FAQ

What functionality does the new Expensify app offer?

The new Expensify app allows users to send and receive money, split bills, and chat.

Who can use Expensify for financial collaboration?

Groups of all types, including roommates, student orgs, church groups, neighborhood associations, professional societies, and friends, can use Expensify for financial collaboration.

Where can users learn more about the new Expensify app?

Users can learn more about the new Expensify app or sign up to try it on the Expensify website.