Venmo
5
Advertisement
Venmo, PayPal's mobile payment app, is a popular P2P app in the US. It allows users to put money into it and take it out, split checks and pay will-accept merchants through both its app and its website, among other features. One thing that helps Venmo stand out is its social feed, where users can post, comment and respond to transactions (emojis encouraged) and control their privacy settings. It supports payment from the balance of your Venmo account, linked US bank accounts (free),debit cards (free) and credit cards (3% fee). Though geared more toward individuals, Venmo does offer business profiles to merchants.
Advertisement
Highlights
Social Payment Experience
Venmo combines social media principles and finance, as users can insert an emoji, a message or a GIF in the transactions to create a shareable feed of payments. This characteristic also turns bills splitting, or gifting money, into a fun and transparent experience.
Instant Transfers
Funds are available to users immediately if they transfer money from Venmo to their bank account or debit card within minutes (for a small fee), avoiding the delays of similar offerings. This instant access comes in handy if you need to make an emergency payment.
Split Payments Feature
Venmo makes group spending easier by allowing users to split costs equally or adjust the amounts owed to individual friends. Whether it is in the renting of an apartment, splitting of dinner or travel costs, the app calculates automatically.
Venmo Debit Card
Venmo Mastercard users can spend their balance in stores and online, harvesting cashback rewards on qualifying purchases. Paired with the app, it offers spending tracking and instant access to funds in a way.
Robust Security Measures
Venmo safeguards users through encryption, two-factor authentication and purchase protection. And users can lock down the app with a PIN code or fingerprint (or face) scanner.
Ad
