They delay helps both financial companies and users insure they are marking shared payments as personal, instead of business. The first would not be taxable, while the other is taxable.

For example someone may want to pay the restaurant bill most of time to get extra points on their credit card. They might venmoed more than $600 from dinner companions over the year when sharing the bill.

I had not paid close attention to this recently, so dont know if I had been making a mistake.