Group accounts essentially act as separate account several people can share for things like paying dues or collecting money for an event.
Aside from the usual social Venmo features like commenting or ‘liking’ a transaction, groups also let you add managers to help keep everyone in check.
Its a neat addition that could help give it a leg-up over competitors like Square Cash, which traditionally only focus on transactions from person to person.
To try it out, you can visit groups.venmo.com and sign up to create a new account with your friends.
You’ll have to already own a regular Venmo account to give it a try however, and the interface – which looks much the same as the one for standard accounts – is currently only accessible via a Web browser.
➤ Group accounts on Venmo launched in beta [Venmo]