Steps to Build a Bill Splitting App like Splitwise

Posted by Konstant Infosolutions on December 19th, 2023

Partying is fun, but spilling bills among friends is a daunting task. We all know that it is very hard to split bills among friends, and eventually, one person gets stuck with the entire payment. All thanks to splitwise, which broke the monotony and simplified the bill-splitting process. In the application, the payer can showcase how much he paid and also split the bills among friends through the application only. This is how friends are now able to share bills and enjoy more without worrying about payment.

This generation needs such applications because they cannot stop doing activities with friends. Nowadays, every friend's group has splitwise in their mobile phones. This application is growing and adding value to our lives. So we think that developing a bill splitting app like Splitwise is a great idea.

If you are also thinking the same, no worries because you have landed at the right platform. We are about to discuss creating an app like splitwise. Our blog includes how these apps work, features, cost of development, monetization, how to build this application, and more. Let’s dive into this useful data to learn about the development planning.

How Does Splitwise App Work?

Well, you know now what is the purpose of Splitwise. This application was introduced to share bills among your fellows without longer discussions and disturbances. However, it is vital to know how these applications work. Know how:

• The first step is to join the bill splitting application, and also invite your friends with whom you regularly go for parties and hang-outs.

• Once you and your friends have joined the application, you have to create a group with them to split the bills.

• Users can add their debit/credit card to the application and later go cashless around.

• When the amount is paid by one, he can add a certain amount in the app and divide it among certain people; either they can be from a group or even share separately.

• The application has a basic feature of dividing the amount among the shortlisted people.

• The users have the authority to decide to either pay through application, or they can also opt for the offline option.

These applications are workable within the corporate sector, with roommates or flatmates, and among friends too. Corporations can divide event billing among employees and share the amount equally. Roommates and flatmates can share their rentals and expenditures through applications. Similarly, friends can divide their bills among each other and enjoy their parties.

Features of Bill Splitting App like Splitwise

Before you start with the bill splitting app development process, you must know which features you want to integrate into the app. Therefore, here we are listing some common features, which you can include and make the application worth standing based on competitive market standards:

1. Users Log-in

The first step is to log in to the application. You must provide users with a log-in process much simpler and seamlessly navigational; so that they can interact and engage with applications. Let the log-in process be accessible through mobile numbers, email-ID, or social media accounts.

2. In-App Calculator

There is a feature called ‘In-App Calculator.’ This feature will divide your entered amount equally among the friends you have chosen. It splits bills equally and also showcases every person’s dedicated amount along with their names. No need for paperwork or calculator hassles anymore, because splitwise is here to do your job.

3. In-App Wallet

It is an advanced feature that you can integrate into the application. Add an in-app wallet feature, in which you can add a certain amount and go cashless. The users can pay through the application only.

4. Notification Sharing

When the users add an amount and divide it among other friends, then this feature in the application will share notifications to other users about the bill splitting. Even this splitting notification also includes a description added by the main user who divided the bill.

5. Reminders for Payment

If there are payments left undone, then the application can share reminders to other friends timely to remind them about the payment left and to be done sooner.

6. Invite Sharing to Friends

If your friends are not on Splitwise, you can invite them through the application, and ask them to download the app. This is an invitation you are sending and asking your friends to join so that you can party more often.

7. OCR System

OCR system is the most important feature, which automatically reads the bills, calculates with in-app features without manual readings, and saves more time for the users.

8. Bank Account Inclusion

The users can add bank account details in the app and can step ahead cashless. They do not need to enter the bank details over and over. The application will save the bank details in one time, and store them following all the security measures.

9. Group Creation

The feature allows the user to create a group with other friends so that he can split the bills among all appropriately. The group building feature is an absolute solution for those, who have a regular friends group for parties and hangouts. If you have a regular bill-splitting routine among certain friends, then better you make a group with all of them.

10. Security Feature

The application completely processes money, therefore you must follow some security measures to secure your account details and other info too. Ask the developers what best they can do to process the security measures.

11. Expense Add-Ons

This feature allows the users to see their money transfers, their expense information, where they are transferring and from where they are receiving money. It is a kind of expense history management, where the users have access to all the information.

How to Build a Bill Splitting App like Splitwise?

Here we will describe how the Bill Splitting App like Splitwise is built. Learn the steps listed below:

• Conduct In-Depth Research

Research is the most important thing you must understand because, from this first step, you will understand what to create and what’s the final goal. In the research conduction, you need to analyze your own plans and ideas. Also don’t forget about the market research. Go through the market competitors, learn the market standards, and learn the latest tech–trends. All the analysis is worth it because that will give an idea about what to build for one own.

• MVP Development

One should connect with the best mobile app development company in India to develop an authentic Minimum Viable Product (MVP). MVP is a clear picture of how the app will look like in the future. Also, this MVP presentation will help in showcasing how this app will process, and what can be its possible outcomes. The most usual reason for MVP Development is to create a development roadmap for the application.

• UI/UX Designs

Now the designers will add designs, wireframes, and prototype the bill splitting app. It is a vital stage, where the experts will add attractions and engage users with its amazing navigational process. The designers will add colors, themes, a menu, and navigation, and design it for a smooth user experience.

• App Development

In this stage, the developers will write codes and work on the front-end & back-end development. They will write codes and add-on features and functionalities on a design basis. The development needs to take place very precisely because this stage decides how the app is going to process.

• Testing and Quality Assurance

When the application development is completed, here comes the testing and quality assurance stage. In the testing and quality assurance, the QAs will analyze whether the app is working appropriately, whether there are bugs entered, any technical glitches to be resolved, and any alterations in features & functionalities according to the market standards. So all these will be thoroughly analyzed to know whether it is a piece to launch in the market or not yet.

• Deployment

Here comes the moment, when the product will be launched on the App Store or Play Store. The dedicated platform has already been decided by the clients and developers. This is the stage, where the developers will launch the application on the decided platform.

• Post Deployment Support and Maintenance Services

When the app is deployed, after that you will learn where the application lacks. The market will give a certain response, users will share their feedback, you will come across the loopholes left behind, and these all will tell what changes we need to make after deployment. The developers will provide certain post-deployment support and maintenance to the client in the hope that his application will run well in the marketplace.

Conclusion

Bill Splitting Apps have widened their targeted audience and market. Nowadays, everyone is using splitwise to resolve their bill dividing issues. Due to the skyrocketing demand for Splitwise, there are many entrepreneurs thinking of building an app like Splitwise.

Well, that’s a profitable and market-competitive idea. This idea can turn into a great opportunity, so make sure you develop the app with the right mindset and a dedicated plan. Consider here a top-rated mobile app development company to suggest and guide you with the best advice.

We hope this blog has helped you enough, and now you will get a robust application for the market and users.