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Friend Debit Card

November 7, 2022

A card that automatically splits purchases amongst all of your friends

The Background

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We've all experienced it.

You're at a restaurant with your friends. You get the bill. Now one person has to pay and they receive an odd assortment of Venmo's, cash, IOUs, etc. from everyone else.

The problem of how to split a large purchase between a group of people is not new.

Off the top of my head it happens for:

1. Restaurants
2. Group trips
3. Expenses among roommates
4. Equipment for club sports

And it's kind of crazy that there is no better way to do it than to manually coordinate with every person and beg them for their share.

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The Idea

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The idea is really simple.

It's a platform where you can order physical debit cards for a whole group of people.

Everyone makes an account and links their bank account.

Each member of the group gets one of the cards.

Any purchase that is made with the card evenly splits the cost and takes the money from everyone's bank accounts.

No more needing to Venmo for dinner.

For things like utilities or rent you could also set it up so that one person pays a certain percentage and the other pays the rest. So if you have the bigger room you might pay 60% of the utilities while your roommate pays 40%.

If anyone's balance can't cover the transaction, it bounces.

If you don't trust the group, you can have one of those fraud systems where it sends out a text and asks for confirmation. But everyone in the group would have to confirm.