| Description: |
A member of the PayPal family, Venmo is a fun and easy-to-use mobile payment service that allows users to make and socially share payments with friends using the mobile app or web interface. Once users sign up, they can find friends who have previously created an account by name, or by adding them automatically from their phone’s contacts or Facebook. The Venmo iPhone and Android apps connect users’ with their bank accounts, debit cards and/or credit cards, enabling them to instantly send and receive money to/from anyone in the U.S. Payments are accompanied by a message which users can choose to make public in their Venmo social feed, or keep private. After receiving a payment, users can transfer the money to their bank account overnight. Venmo has bank grade security, and personal and financial data is encrypted and protected on secure servers to guard against any unauthorized transactions. In Q2 2015, Venmo processed $1.6 billion payments, further solidifying its position as one of the top financial apps in the U.S. |
