Apple reportedly planning new service for iPhone

The feature marks Apple’s latest step in expanding its financial offerings

Apple is planning a new service for the iPhone that will let users split bills for group dinners or other events, expanding its push into everyday financial tools and challenging third-party apps.

The feature will allow users to photograph a receipt, assign items to different people and generate payment requests, according to people with knowledge of the plan.

Apple aims to announce the offering as early as next week at its Worldwide Developers Conference and include it in iOS 27, the next version of its iPhone operating system, said the people, they said anonymously because the plans haven’t been announced.

The feature marks Apple’s latest step in expanding its financial offerings. Since introducing Apple Pay in 2014, the company has rolled out the Apple Card and a Goldman Sachs Group-backed savings account, as well as tools that let businesses accept tap-to-pay payments via the iPhone.

Not all of those efforts have gone smoothly. The Apple Card partnership has weighed on Goldman’s results, and the bank is working to offload the business to JPMorgan Chase & Co. Apple also discontinued a “buy now, pay later”-style service about a year after launching it.

The latest feature will be available through the Wallet app or within Messages. Users also will have the option to approve payments from an Apple Watch. The service is tied to Apple Cash, the company’s peer-to-peer payments system. Apple previously added a feature that lets users tap their devices together to exchange money.

The new tool can calculate each person’s share of a bill, including item costs, tax and tip. It’s likely to compete with bill-splitting apps such as Splitwise, Tab and Settle Up, and could strengthen Apple’s position against services like PayPal Holdings’ Venmo and Block’s Cash App.

The new feature also could help Apple appeal to younger consumers who increasingly manage money through apps rather than traditional banks.