Venmo is a payment platform owned by PayPal, but it only operates in the U.S. The payment app
is a great option for users who want to send or receive cash fast through their smartphones. It’s convenient, as you can also use it on your computer or in person since it’s attached to the user’s bank account or a debit or credit card. Venmo is also popular in the U.S., with more than 75 million
active users. The app is simply a digital wallet connecting to your payment methods. Registration is a piece of cake, and you can use your contacts or email addresses to find your friends. Many people use Venmo strictly for personal transactions – the company reports that the average payment amount
is $60. It allows you to easily split rent with your roommate, send cash to a family member, or transfer money to someone for any number of other reasons. Businesses are adopting Venmo in different ways, though. Large companies such as Uber and various e-commerce stores allow you to pay with Venmo, for instance. Venmo also offers its own credit and debit cards that you can use to make purchases and earn loyalty points. The app has a business profile option that allows companies to pay employees, receive funds, and track payments.