Apple is reportedly preparing to turn the iPhone into an even bigger financial institution with a new built-in bill-splitting feature designed for group dinners, travel expenses and shared payments. According to a report from Mark Gurman, the company plans to announce this feature at WWDC next week as part of iOS 27.
The new tool will allow users to capture a restaurant receipt, automatically calculate individual portions including tax and tips, assign items to specific people, and send payment requests directly through Apple Cash. This feature is expected to work within the Wallet app and Messages, and payment permissions are also supported by the Apple Watch.
Apple is quietly expanding its ecosystem as well
The bill splitting tool represents another big step in Apple’s long-term effort to deepen the iPhone’s role in personal finance. Since launching Apple Pay in 2014, Apple has slowly expanded into financial services with products like Apple Card, Apple Cash, savings accounts, and Tap to Pay for businesses.
This latest addition appears to be aimed squarely at younger users who continue to manage shared expenses digitally instead of using cash or traditional banking tools.
The system reportedly works by scanning a receipt using the iPhone’s camera, identifying individual items, calculating tax and tip allocation, and automatically creating payment requests. Users can pay balances with Apple Cash without needing separate third-party apps.
Apple is reportedly working on creating custom digital passes within Wallet, allowing users to create their own event passes, exercise cards, and digital credentials right on the device.
Apple’s move also puts it in direct competition with established cost-sharing and peer-to-peer payment platforms. Splitwise, one of the most widely used debt splitting apps in the world, has surpassed 10 million monthly active users and has helped users manage more than $90 billion in shared expenses since 2011.
Meanwhile, Venmo continues to process more than $275 billion in annual payment volume, while Cash App reports nearly 57 million active users. By integrating billing directly into Wallet, Messages, Apple Cash, and Apple Watch, Apple is trying to eliminate the need for separate apps entirely and keep more of the financial function within its ecosystem.
Apple’s biggest advantage, however, may be integration. Unlike standalone apps, the new feature will be built deep into iOS, Messages, Wallet, Apple Watch, and Apple Cash simultaneously.
Why This Matters
Apple seems to be very focused on making the iPhone the centerpiece of everyday financial work. Splitting the bill may sound small compared to AI announcements or hardware launches, but these types of ecosystem features often strengthen long-term user retention more effectively than flashy upgrades.
The move could also pressure third-party cost-sharing apps that currently rely on convenience as their main selling point. If Apple can make split payments seamless across all iPhones, many regular users may stop downloading separate apps altogether.
At the same time, Apple’s financial expansion has faced challenges. Apple Card’s partnership with Goldman Sachs has struggled financially, and Apple previously closed its buy-now-pay-later offering less than a year after launch.
What happens next
Apple is expected to officially unveil the new split-screen feature during WWDC and the wider iOS 27 announcements focusing on AI, Siri improvements, and Apple Intelligence. The update is expected to include AI-powered photo editing tools, a redesigned Siri experience, and deeper Wallet integration across Apple devices.
If the feature works well, Apple may end up doing what it usually does best: turning a separate app category into a built-in iPhone feature that millions of users take for granted simply because it already exists.
