PayTM is one of the most popular platforms in India. If added, the number of Indian Users would increase exponentially.

integrate payment options through mobile wallet like paytm,paypal etc

add paytm and like options for payment

settling debts using paytm wallet can be integrated into this app for easier and efficient way of settling debts.
Plus this way the app doesn't have to make any significant security assurance of keeping bank details in the app as well the the users can easily settle debts via paytm which already has a gateway in place.

Please ass Indian Payment service

For Indian users, link PAYTM wallet so that expenses can b settled directly. It will take into account the pennies also. The payments can be even scheduled in this way

In app support to initiate payment via payment gateways like these would really help a lot.

It could integrate a money transfer system,so that we could transfer the borrowed money online and keep records of them also. Go for this idea. Try integrating PayTM wallets and make the users to sign up for that wallet optionally. It depends on user. So let it be an optional feature. The concept is like transfer money from my PayTM wallet to the another person's (person from whom I've borrowed money) PayTM wallet.

I am a regular user of Splitwise since last 4 months and at the end of every month , we sit down and transfer the residual amounts to each others bank account.
instead if you have a tie up with my bank in this case HDFC bank (http://www.hdfcbank.com/) or Paytm wallet (https://paytm.com/)( an online wallet quickly gaining traction in indian market).
I can settle the transactions within the app instead of using another third-party app.
I know you have a tie-up with PayPal, but its not active in india and its a growing market that cant be neglected

Paytm, mobiquik, payumoney integration would be amazing!

you can ask all users to register their bank account numbers to which they want the money to be credited. then allow users to make payment using methods like netbanking, debit cards, credit cards, PayPal, paytm, payumoney etc. then you can either use the transaction services like visa and mastercard to credit it to the beneficiary's account but this would require you to pay some charges to the transaction services company.
second option is that you can get it transferred to your own account and then credit it to the beneficiary in 24 hrs, this would make sure that you don't have to pay to any transaction services (as the transaction will be facilitated by the banks) and the brightest part is that you can earn an interest of one day on every transaction made. now this will hit your bottom line and also please your customers with cashless settlements. combine this with a currency exchange rate payment facility and there you have a great product.

Include wallet like paytm,payu etc (applicable only in india)