This seems unreasonably expensive. Each contributor gets charged 4% plus $0.99. This makes it very expensive to split a restaurant lunch bill.

8 people chipping in on a $100 check: Even split would be $12.50 per person. With this service it would be $14.00 per person. That's a 12% tax on lunch for everyone but the initiator.

This might be useful for bigger purchases, but even then, charging 4% to give money to my friend seems a little ridiculous.