'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 gas and helping PayPal gain a beachhead in the Netherlands.
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 bank partnerships. It has also collaborated with Alipay to serve Chinese travelers in Europe.