Venmo is a mobile payments apps owned by Paypal. It was founded in 2009 in Philadelphia and acquired by PayPal in 2012. It allows you to send and receive money, split common payments with friends with cool social features.
Few points about Venmo:
- You can add money to Venmo by linking a debit card or bank account
- You can use Venmo to pay for online purchases on shopping apps and websites
- Venmo has two modes Venmo Friends and Family Mode and Goods and Services mode when you use Venmo to pay for purchases. You can turn the purchase mode off when making personal transactions.
- Venmo offers a purchase protection similar to PayPal
- Venmo also offers a early direct deposit account for eligible members through its partner bank (which is considered as a limited checking account)
Here in InfoAbsolute under Finance Apps, we talk about various tips and how-to guides to make full use of Venmo.