System and computer implemented method for sharing expenses using a dual-chip payment card

A dual-chip payment card comprising:

• a primary chip proximate a first side of the dual-chip payment card and a secondary chip separate from the primary chip proximate a second side of the dual-chip payment card opposite of the first side of the dual-chip payment card, the primary chip associated with a primary account of one of a plurality of users having the dual-chip payment card and the secondary chip associated with a secondary account of the one of the plurality of users having the dual-chip payment card,
• wherein the secondary chip of the dual-chip payment card is activated in response to being associated with a temporary pool session, the temporary pool session created based on a request for creating the temporary pool session for a plurality of users from the one of the plurality of users having the dual-chip payment card, the request including a proportional credit amount to be collected from each of the plurality of users and at least one user credential for each of the plurality of users,
• wherein the temporary pool session is associated with a session identifier, wherein the temporary pool session automatically terminates after a configurable time period, and wherein the temporary pool session receives a credit for the proportional credit amount from a primary account of each of the plurality of users,
• wherein associating the temporary pool session with the secondary chip of the dual-chip payment card comprises linking the secondary account of the one of the plurality of users having the dual-chip payment card to the temporary pool session, and wherein the secondary chip of the dual-chip payment card is active only when associated with the temporary pool session and until the temporary pool session terminates,
• wherein the secondary chip of the dual-chip payment card is configured to initiate one or more transactions using the temporary pool session, each transaction comprising a transaction amount to be deducted from the temporary pool session, and
• wherein the secondary chip of the dual-chip payment card is deactivated upon termination of the temporary pool session, and wherein a proportional amount of an unused credit amount remaining in the temporary pool session is returned to each of the plurality of users upon termination of the temporary pool session.