'Split the bill' is a popular way to explain the utility of everything from account transfers to social network-enabled payments. For Rabobank subsidiary MyOrder and Wirecard, it's the impetus for a group mobile wallet.
The two companies are enabling GRPPY (Grouppay), a wallet that enables people to share expenses. A group can collect funds and keep a group balance for buying tickets for festivals, or can share the tab at a restaurant. People join the wallet's group through invites. One person generally spends the money on behalf of the group, and all group members can trace spending and top-ups.
"Splitting the bill is always a hassle in groups, a mobile group wallet really solves that problem," said Gertjan Rosken, MyOrder's chief technology officer, in a release.
MyOrder is an eight-year-old mobile platform that powers services, marketing and payments. The Utrecht, Netherlands-based Rabobank acquired MyOrder in 2012 and has used the company's technology to offer features such as prepaying for
The Munich-based Wirecard offers outsourcing and white label electronic transaction technology. It recently added support for host card emulation to enable mobile payments, making it more amenable to
