Many Australians are owed money by their mates after a night out, but a new app could split expenses rather than friendship groups.
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Despite billions of dollars being transferred between family and friends every year, a Finder survey found Australia was "a nation of freeloaders" with one-in-four Aussies owed money.
As cost-of-living pressures mount, money disputes can tip relationships over the edge.
A Sydney-based tech start-up has come up with KttiPay - an app that can be used on Android and Apple smartphones and tablets.
"The old system of paying money into a shared kitty worked well for our parents and grandparents, and now we're making it work for us," CEO and founder Iain Salteri said on Thursday.
Targeting Gen Z and Millennials, he says group spending happens daily but current tech solutions don't quite meet their bill-splitting needs.
Officially launching in October, the app allows separate "Ktties" to be created for different purposes. KttiPay then issues directly linked Visa debit cards.
Friends and family can pre-pay directly into the app before an event, dinner, hens' night, holiday or for a group gift and avoid awkward or time-consuming settling-up afterwards.
"In a time of increased complexity it's nice to be able to go back to tried-and-trusted ways of managing money," Mr Salteri said.
"KttiPay has been created for modern Aussie users to ensure that they never have to settle up again."
Australian Associated Press
