PiggyBack: Keep Track of Debts Between Friends

Mark Bebawy May 10, 2010 Tweet

Spending a night out on the town with a large group of friends is always a great time, whether you’re bar hopping or trying out a new restaurant. It’s always fun, until the check comes. Then there’s the issue of splitting up the tab which can be messy. Some members of your party may only have credit cards and some may want to pay with cash. Figuring out how much everyone owes plus tip is always a chore.

If you find yourself in that type of situation often, a new service called PiggyBack may be the solution. PiggyBack allows one person in the group to take care of the tab. Later on the person who paid the tab can split it up between the rest of the group and let them know via email. PiggyBack will keep track of who owes who and keep a running total of the amount. The idea here is that over time the amounts owed will even out.

This is a different approach from other services that will split things up and then attempt to collect the money. PiggyBack implements an IOU tracking system which could work great if used with the people that you spend the most time thus removing the need to collect since your debts will eventually wash each others out. I can see this service taking off because its a light weight way to keep track of tabs between friends without really having to exchange cash.

PiggyBack will be demoing as a showcased startup at TECH cocktail Chicago 13 on Thursday, May 13th, 2010 at John Barleycorn in Wrigleyville.