{"id":3504,"date":"2022-05-26T08:54:22","date_gmt":"2022-05-26T08:54:22","guid":{"rendered":"https:\/\/decentro.tech\/blog\/?p=3504"},"modified":"2025-01-08T09:03:22","modified_gmt":"2025-01-08T09:03:22","slug":"how-decentro-and-splitkaro-came-together-to-simplify-bill-splitting-for-friends-and-colleagues","status":"publish","type":"post","link":"https:\/\/decentro.tech\/blog\/how-decentro-and-splitkaro-came-together-to-simplify-bill-splitting-for-friends-and-colleagues\/","title":{"rendered":"How Decentro and Splitkaro came together to simplify bill splitting for friends and colleagues."},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/decentro.tech\/blog\/how-decentro-and-splitkaro-came-together-to-simplify-bill-splitting-for-friends-and-colleagues\/#What_is_Splitkaro\" title=\"What is Splitkaro?\">What is Splitkaro?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/decentro.tech\/blog\/how-decentro-and-splitkaro-came-together-to-simplify-bill-splitting-for-friends-and-colleagues\/#How_does_Splitkaro_work\" title=\"How does Splitkaro work?\">How does Splitkaro work?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/decentro.tech\/blog\/how-decentro-and-splitkaro-came-together-to-simplify-bill-splitting-for-friends-and-colleagues\/#Splitkaros_Key_Challenges\" title=\"Splitkaro\u2019s Key Challenges\">Splitkaro\u2019s Key Challenges<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/decentro.tech\/blog\/how-decentro-and-splitkaro-came-together-to-simplify-bill-splitting-for-friends-and-colleagues\/#How_Decentro_Empowered_Splitkaro\" title=\"How Decentro Empowered Splitkaro\">How Decentro Empowered Splitkaro<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/decentro.tech\/blog\/how-decentro-and-splitkaro-came-together-to-simplify-bill-splitting-for-friends-and-colleagues\/#The_Outcome\" title=\"The Outcome\">The Outcome<\/a><\/li><\/ul><\/nav><\/div>\n\n<figure class=\"wp-block-image size-large featured-post-img\"><img loading=\"lazy\" width=\"854\" height=\"854\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/How-Decentro-and-Splitkaro-came-together-to-simplify-bill-splitting-for-friends-and-colleagues..png\" alt=\"Splitkaro\" class=\"wp-image-6197\"\/><\/figure>\n\n\n\n<p>Jack and Jill went up to a bar to catch up for fun and laughter.&nbsp;<\/p>\n\n\n\n<p>Jack downed a few beers while Jill only sipped soda all evening. The bill came, and Jack suggested splitting the bill evenly; Jill agreed because she wanted to avoid the awkward money conversation.&nbsp;<\/p>\n\n\n\n<p>Jack went home, happy and tipsy, and Jill went grumbling after.&nbsp;<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"What_is_Splitkaro\"><\/span>What is Splitkaro?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>We\u2019ve all been the Jacks and Jills at some point or the other, and calculations in bill splitting can be awkward and frustrating.&nbsp;<\/p>\n\n\n\n<p><a href=\"https:\/\/www.splitkaro.com\" target=\"_blank\" rel=\"noreferrer noopener\">Splitkaro<\/a> is a platform precisely built to tackle the problems associated with group spending and payments. It is a free bill splitting app to track, manage and settle shared group expenses amongst friends and flatmates, making splitting bills super easy and fair.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Screenshots1.jpg\" alt=\"\" class=\"wp-image-3507\" width=\"580\" height=\"578\"\/><figcaption>The Splitkaro App<\/figcaption><\/figure><\/div>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"How_does_Splitkaro_work\"><\/span>How does Splitkaro work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Using UPI, Splitkaro enables users to split bills, track and manage group expenses like rent, travel, online food, groceries, subscriptions, etc., with additional features like instant bills, <a href=\"https:\/\/www.splitkaro.com\/faq\/payments\" target=\"_blank\" rel=\"noreferrer noopener\">payments<\/a>, collections &amp; itemized bills split.&nbsp;The app also fetches bills from online stores like Swiggy, Bigbasket, etc., and lets users split bills based on the items proportionately, and not equally. This way, users pay only for the items they have consumed.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Splitkaro-Comparison-1.png\" alt=\"\" class=\"wp-image-3508\" width=\"664\" height=\"580\"\/><\/figure><\/div>\n\n\n\n<p>Take Groups, for instance.&nbsp;<\/p>\n\n\n\n<p>Groups, a closed-loop wallet, help maintain a ledger of expenses amongst friends who spend frequently together, on a regular basis. Users can create groups with people they split the most with flatmates, college friends, colleagues, or a partner.<\/p>\n\n\n\n<p>Users can track the expenses, calculate the total spend of the group, and an individual\u2019s share. Users can also set reminders for friends to pay their groups balances.<\/p>\n\n\n\n<p>On the other hand, Collection is used to keep bills related to a particular day or event together. It can be added to a group or used outside of it.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Screen-Shot-2022-05-26-at-2.08.31-PM-2.png\" alt=\"\" class=\"wp-image-3535\" width=\"229\" height=\"472\"\/><figcaption>Groups Feature in Splitkaro<\/figcaption><\/figure><\/div>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Splitkaros_Key_Challenges\"><\/span>Splitkaro\u2019s Key Challenges<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Navigating the complex, heavily regulated finance sector and gaining quick access to the market were key challenges that Splitkaro faced.<br><\/p>\n\n\n\n<p>To manage cash flows and to ensure that settlements between the users were instant, Splitkaro had to integrate with banks, and have control over payments. The integration process was long-drawn, costing a lot of money and effort.&nbsp;<\/p>\n\n\n\n<p>Also, as Splitkaro onboarded more users, the volume of transactions increased rapidly, and became tricky. Subsequently, as the platform would scale further, the Splitkaro team expected the&nbsp; issue to worsen.&nbsp;<\/p>\n\n\n\n<p>They were in need of access to financial services delivered via third-party APIs to offer their customers a better experience, services, and innovation.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"How_Decentro_Empowered_Splitkaro\"><\/span>How Decentro Empowered Splitkaro<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Splitkaro partnered with Decentro to leverage our APIs for collections, virtual accounts, and payout.&nbsp;<\/p>\n\n\n\n<p><strong>Speed of Execution<\/strong><\/p>\n\n\n\n<p>With Decentro\u2019s API <a href=\"https:\/\/decentro.tech\/blog\/baas-guide\/\" target=\"_blank\" rel=\"noreferrer noopener\">banking infrastructure<\/a> integrated on top of multiple banks, Splitkaro\u2019s integration timelines were drastically reduced. As compared to\u00a0 spending 6-9 months with a bank to get streamlined API-driven solutions, Splitkaro was able to integrate and hit the market in a matter of 4 weeks with their app!\u00a0<\/p>\n\n\n\n<p><strong>Virtual Accounts for Collections and Payout<\/strong><\/p>\n\n\n\n<p>Each user had a <a href=\"https:\/\/decentro.tech\/products\/virtual-accounts\/\">virtual account<\/a> into which they loaded money using UPI or bank transfers. These virtual accounts were set-up on Splitkaro\u2019\u2019s business account, making payout, and collections effortless. Additionally, Splitkaro was able to make payment reconciliation real-time, and automated. Besides, each virtual account is associated with a <a href=\"https:\/\/decentro.tech\/blog\/what-no-one-will-tell-you-about-upi-payment-links-payment-gateways\/\">UPI ID<\/a> which can be customized &amp; white-labeled.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Screenshots2.jpg\" alt=\"\" class=\"wp-image-3510\" width=\"567\" height=\"564\"\/><figcaption>Expense management in Splitkaro<\/figcaption><\/figure><\/div>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"The_Outcome\"><\/span>The Outcome<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>A faster, smoother and a highly flexible payment experience<\/li><li>Splitkaro\u2019s go-to-market timelines were reduced by 50%, after resolving banking integration challenges.<\/li><li>Fastest API response times within a few hundred milliseconds<\/li><li>Instant payment settlements<\/li><li>Real-time and automated payment reconciliation&nbsp;<\/li><li>Single endpoint for multiple integrations<\/li><li>Multi-channel <a href=\"https:\/\/decentro.tech\/products\/payments\/\">payment collections<\/a> via UPI, QR codes, RTGS, IMPS, NEFT<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Splitkaro-Flywheel.jpeg\" alt=\"\" class=\"wp-image-3523\" width=\"666\" height=\"498\"\/><\/figure><\/div>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><span style=\"color:#20509e;font-size:1.75rem;font-weight:400;\" class=\"has-inline-color\">&#8220;In Splitkaro&#8217;s vision to transform how people spend together, a secure and reliable digital payment system was at the core. We wanted to go beyond traditional P2P payments and were looking for a solution which did not require us to reinvent the wheel but rather allowed us to focus on building the differentiators. Being an early stage startup, we trusted another emerging startup and so far it&#8217;s going great. Decentro&#8217;s API banking software platform helped us go-live quickly and in a hassle free way.&#8221;<\/span><\/p><cite>Bhuwan Bharat &#8211; Founder, Splitkaro<\/cite><\/blockquote>\n\n\n\n<p>If you are looking to solve a financial challenge and overcome it as Splitkaro did, our doors are open for you at <strong>hello@decentro.tech<\/strong>.&nbsp;<\/p>\n\n\n\n<p>We\u2019ll make it easy for you.&nbsp;<\/p>\n\n\n\n<p>Until we meet you again with yet another success story.&nbsp;<\/p>\n\n\n\n<p>Cheers!&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How did Splitkaro, a free bill splitting app, overcome go-to-market, adoption, and user experience challenges?<\/p>\n","protected":false},"author":2,"featured_media":3520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[70],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ 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