An app for sending and receiving cash between friends and shopping online, Venmo is a popular payments app with a social aspect. The app shows recent transactions between friends—and others around the world—in a social feed. Users can opt to publish transactions publicly or keep them private. It also includes an instant transfer feature which allows users to move their funds to a supported bank in as little as 30 minutes (with a $0.25 fee).
Venmo is easy to use and connects to your bank account, credit card, or debit card so you an easily send and receive money. Money can be kept in the Venmo account to use for later, or users can cash out immediately. They recently introduced a new Venmo MasterCard which users can request. The card withdraws money directly from a Venmo account or any supported ATM. If a user doesn’t have enough funds to cover a transaction, they will automatically be added from a supported bank in $10 increments.
Venmo (owned by PayPal) is also supported online anywhere you see “Pay with PayPal.” Users can choose to pay from a linked account or with the funds from their Venmo account.
Who is it for?
Anyone who wants a quick and easy way to send a receive cash. It also offers a debit card option for users who would like to use it as an alternative bank account.
- Social Feed.
- Instant Transfer.
- MasterCard Debit Card.