![]() Once that is done, you can easily send and receive money from other Venmo users. It will allow you to link your credit or debit card with your Venmo account. Then, you simply need to register yourself on the Venmo app. You need to download the Venmo app from Google PlayStore or Apple Store to get started. Eventually, in 2012, Venmo became an easy-to-use mobile app through which people could transfer money. It was founded in 2009 by two roommates from the University of Pennsylvania as an SMS-only money transfer service. Users can even see their friend’s transactions in their activity feed. ![]() They can chat with one another and even send emojis and stickers. One of the unique qualities of this app is that users can socially interact with each other. A Venmo User can even use the app to split their costs and bills between them. Users can transfer each other money just via phone, and they can even pay their merchant partners. Venmo is one of the largest peer-to-peer payments apps in the United States. Let’s look at Venmo’s business model in detail. But how does it generate revenue when most of the transactions are free? One of such apps that lets you transfer and receive money from your friends and family is Venmo. ![]() There are many mobile apps through which you can send money to your friends and family with just one click. You don’t need to go to a bank to make payments. Technology has advanced tremendously over the last two decades.
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