The feature, part of the upcoming iOS 27 update, will allow users to take a photo of a receipt, assign items to different people and automatically calculate how much each person owes.
It will connect to Apple's peer-to-peer Cash feature, which enables users to send, receive and request money directly through their iPhones.
The update is expected to roll out sometime in September, offering a more streamlined and less awkward way for groups to settle shared expenses.