Heaptalk, Jakarta — GoTo’s financial technology business unit, GoPay, launched a Split Bill feature in the GoPay applications to simplify user group payments. This feature allows users to capture receipts, divide costs, and complete payments within the application.
“This feature stems from a common obstacle people face. We frequently discover it troublesome to calculate shared payments manually. The Split Bill feature can be used for various shared expenses, from splitting the bill after dining with friends at restaurants, paying for group activities, vacation expenses, or even recurring monthly payments.” Head of GoPay Wallet, Kelvin Timotius, said.
In more detail, the Split Bill feature contains several vital benefits, covering:
- Automatic Receipt Calculation
The Split Bill feature uses Optical Character Recognition (OCR) technology developed by GoTo’s internal team. Users can take a photo of the receipt, and the text is automatically recognized with over 90% accuracy. GoTo’s AI-driven OCR technology processes the calculations automatically, dividing the bill according to each person’s contribution. Users can also choose two options for splitting bills via the GoPay app: take a photo of the payment receipt for automatic calculation or manually divide the total.
“This innovative feature revolutionizes how we split shared expenses by making it more accurate, eliminating the need for manual calculations or a calculator,” Kelvin explained.
- Easily Track Payment Status
Once the Split Bill is created, group members receive a “Pay Split Bill” notification in their GoPay app, allowing them to proceed with payment seamlessly without asking for account details. An automatic notification is sent to the GoPay account, eliminating the need to send proof of transfer.
- Payment reminders
Users can capture the receipt and request payments from friends using their registered GoPay phone numbers. “No more worrying about which account to transfer the money to, as everything is integrated into the GoPay app. The bill notification will be sent via WhatsApp if the person being charged doesn’t have the GoPay or Gojek app,” Kelvin affirmed.
In the second quarter’s financial performance, GoTo recorded a 39% YoY revenue enhancement, attaining Rp63.2 trillion. The company’s net revenue in 2Q24 was Rp3.5 trillion, an increase of 115% YoY. The group adjusted EBITDA loss was reduced by 95% YoY and 53% QoQ to Rp48 billion, putting the company on track to meet its full-year adjusted EBITDA breakeven target. Also, GoTo booked a net loss of Rp954 billion for the second quarter, a reduction of 63% YoY.
Furthermore, Group core GTV, which excludes GoTo’s merchant payment gateway, increased by 54% YoY to Rp4.3 billion. Meanwhile, the group GTV increased by 26% YoY to Rp121.5 trillion. This digital ecosystem claimed its robust performance was driven primarily by user growth in reasonable on-demand service products, increasing GoPay app adoption and loan book growth, and disciplined cost control. According to GoPay’s internal data, transfers via GoPay have increased tenfold over the past year. Since its national launch in July 2023, the GoPay app has been downloaded by over 30 million users.