Category
Tech
Delegated Interfaces
Trend cluster
Category
Payment
Split
Cost-splitting apps enhance the convenience of daily rituals.
3.5
Trend score
Trend
What is the Payment Split trend?
Payment Split: A plethora of payment-splitting apps can now be observed across categories. With the idea of making bills easier to pay, these apps are appearing across sectors from restaurant visits to managing household expenses.
Insight
The consumer insight behind the Payment Split trend
Consumers have come to expect transparency, efficiency and convenience as cornerstones in the ways in which they engage with brands, platforms, services and technology within their daily lives. With these drastic shifts occurring across industries, payment services as a whole are undergoing an overhaul.
Trend themes
Themes within the Payment Split trend
Three behaviours holding the trend together01
Payment-Splitting Apps
The increasing popularity of payment-splitting apps is leading to an overhaul of payment services, with transparency and convenience at the forefront.
02
Real-Time Payment-Splitting
Real-time payment-splitting apps like Rift Pay are disrupting the traditional process of having one person pay and be reimbursed, making it easier to split costs when traveling or sharing expenses with roommates.
03
App-Based Menus
The adoption of app-based smart menus in restaurants is making ordering and payment easier for diners, while offering added features like dietary preferences and group payment options.
Industry implications
What the Payment Split trend means for industry
Where the trend changes the playbookFor
Financial Technology
The rise of payment-splitting apps and real-time payment services are disrupting the traditional financial services industry.
For
Hospitality
The adoption of app-based menus and wait-free payment services is streamlining the dining experience in the hospitality industry.
For
Travel
Real-time payment-splitting apps like Rift Pay are making it easier for groups of travelers to split costs and manage expenses while on the go.
Workshop question
How could your brand ease the purchase journey for its customers?
Trend signals
Trend signals for Payment Split
Trend score 3.5 out of 10, from popularity 54%, activity 42%, freshness 9%.
Popularity54%
Activity42%
Freshness9%
Audience
50%Men
50%Women
- Gen Alpha (not a primary audience)
- Gen Z
- Millennial
- Gen X
- Boomer
Market
North America
Europe
Asia-Pacific
South America
Africa
Evidence
Examples of the Payment Split trend
6 featured examples from Aug 26, 2017 to Dec 10, 2019CategoryLifestyle
App-Based Smart Menus
me&u Lets Diners Tap a Tag on Their Table to Order Food and Drinks
Implementing app-based smart menus to enhance the dining experience and improve operational efficiency in restaurants.
CategoryTech
Real-Time Payment-Splitting Apps
Rift Pay Automatically Splits the Cost Between Multiple People
Disruptive innovation opportunity in the mobile payment industry by offering a convenient way to split costs among multiple users.
CategoryBusiness
Wait-Free Payment Services
The Barclaycard Payment Service Lets Diners Eat and Then Leave
The hospitality industry can incorporate contactless payment solutions like 'Dine & Dash' to revolutionize the dining experience for customers and increase operational efficiency.
CategoryBusiness
Shared Expense Apps
'Acasa' Makes it Easy to Split Shared Household Bills and Expenses
Fintech companies that focus on shared-expense apps, like Acasa, could disrupt traditional banking practices for automating payments among groups of people.
CategoryTech
Cost-Splitting Payment Systems
The QuadPay App Allows Users to Split Purchases into Four Payments
The retail industry can leverage cost-splitting payment systems to attract more customers, increase conversion rates, and boost sales.
CategoryTech
Group Money Management Platforms
N26's Shared Spaces Feature Will Streamline Group Finances
Shared Spaces feature offered by N26 presents an opportunity for innovation in group money management and financial planning in banking.
