HOMEGROWN social payment app Kashmi - which launched in January this year - has busted the S$1.5 million-mark in user transactions, it said on Thursday.

Kashmi, which bills itself as Singapore's "first and only social payment app", is a cashless payment app with a social facility. It allows users to top up their virtual wallets and pay friends using a credit or debit card, through either Mastercard or Visa.

On Thursday, Kashmi also said that it is launching a "Group Pay" function which will go live on June 25 to coincide with the last qualifying rounds of the Euro 2016 football matches.

This new function will let users collect payments from multiple peers in one click, Kashmi said.

"Developed to ease the stress of recouping money from social expenditures, particularly around sporting events like the Euro cup, Group Pay can help in all group spending situations - from buying drinks at the bar to booking a venue to watch the game, or even, for those lucky enough to go, paying for travel to watch the games live in France," Kashmi said in a press release.

"Kashmi is also a favourite with local sports managers who use the app's functions to collect subs and match fees."