TL;DR
Apple is developing a bill sharing feature for iOS 27 that takes photos of receipts, assigns items to people, and creates Apple Cash payment requests. Expected to be announced at WWDC, the tool competes directly with Splitwise, Venmo and Cash App.
Apple is developing a new iPhone feature that will allow users to take a photo of a restaurant receipt, assign individual items to different people, and create automatic payment requests through Apple Cash. The tool will calculate each person’s share of the bill, including item costs, tax and tip, This was reported by Bloomberg on Mondayciting people with knowledge of the plan. Apple plans to announce the feature at its Worldwide Developers Conference next week and roll it out as part of iOS 27 this fall.
The feature will be available through the Wallet app and within Messages, with the ability to approve payments from the Apple Watch. Shares of PayPal and Block, which owns the Cash App, checked earnings on Monday on the news. Apple competes with Venmo and Cash App In peer-to-peer payments since Apple integrated Cash into iMessage, however, the account sharing tool represents a more direct attack on the social payments category, which is dominated by third-party apps.
Why receipts are important
Invoice splitting apps like Splitwise, Tab, and Settle Up have built dedicated user bases around the problem of splitting group expenses. Most work by requiring users to enter amounts manually, a process that creates friction and errors. Apple’s approach eliminates the manual step entirely by taking a photo of the receipt and using image recognition to extract the individual line items.
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Integration with Apple Cash means that the entire flow from taking a picture of the invoice to accepting the payment remains within the Apple ecosystem. Users do not need to download a separate application, create an account with a third-party service, or link a bank card to the new platform. Apple has systematically expanded its payment infrastructure Since launching Apple Pay in 2014, and each addition makes the ecosystem even stickier for users who rely on iPhones for everyday transactions.
Apple’s fintech track record
The account split feature continues the fintech expansion with mixed results. Apple Pay is widely accepted and has become the dominant contactless payment method in many markets. Apple Cash’s peer-to-peer paymentsThe Apple Card credit card set up with Goldman Sachs, a Goldman-backed savings account and tap-to-pay for businesses all followed.
Not all of these attempts were successful. The Apple Card partnership has impacted Goldman Sachs’ financial results, and the bank is working to offload the business to JPMorgan Chase. Apple also discontinued its “buy now, pay later” service about a year after launching it. The example shows that Apple is willing to experiment aggressively in fintech, but is also willing to back off quickly if the product doesn’t appeal or partner relationships strain.
A competitive landscape
Splitwise is the most direct competitor. The app has built a loyal user base for tracking expenses shared between households, trips and recurring group expenses. But Splitwise requires users to actively open the app and manage balances, a process Apple’s integrated approach could greatly simplify for casual use cases like splitting a restaurant bill.
Venmo and Cash App compete on a different level. Both are full-featured payment platforms with social feeds, merchant payments and financial products. The fintech landscape is evolving rapidly AI-powered banking platforms like Apple are entering the market, but Apple’s advantage is distribution. Every iPhone is a potential charge-splitting device with no download required.
The feature also targets younger consumers who manage money more through apps than through traditional banking. Global mobile payment platforms are fighting this demographic by incorporating financial tools into the apps people already use every day, and Apple’s Messages integration puts invoice sharing where group lunch conversations already happen.
Part of the wider iOS 27 update
The account sharing service is one of several Wallet app additions coming in iOS 27. Apple also plans a tool that will allow users to create their own digital passes for events, gym access and other uses. The Wallet app already has a savings account, Apple Pay, and digital keys for cars and homes.
The broader iOS 27 update will focus on artificial intelligence, a revamped Siri digital assistant, AI-powered photo editing tools, a new Siri camera mode, and performance improvements. Apple has positioned iOS 27 as a significant AI upgrade as it uses its Wallet additions to quietly strengthen its position in everyday financial services.
