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American Express, PayPal introduce 'split the bill' feature

  • American Express (AXP +1.5%) and PayPal (PYPL +1.1%) introduce a new feature that allows U.S. consumer American Express card members using PayPal and Venmo to split card purchases with other Venmo and PayPal users.
  • Also, card members can now use membership rewards points to "pay with points" at U.S. merchants that accept PayPal.
  • For the "splitting the bill" feature, card members can select a transaction from the Amex Mobile App and send out requests to get paid back; Amex splits up the total equally and then the app sends out the requests through the member's account with Venmo or PayPal.
  • Later this month, card members will have the option to customized the amount requested from each person.
  • Card members will continue to earn all the rewards they would normally earn for the original purchase even when they split the purchase with others.
  • In 2020, American Express and PayPal plan to bring new feature to card members.

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