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Venmo: What the heck is it?

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Maybe some of you have heard of Venmo, maybe some of you even use it yourself! But to those who are wondering what the heck is a Venmo?  Fear no more, I am here to inform you.

Venmo is a mobile phone payment service owned by PayPal. It allows users to transfer money to other people through the mobile phone app or website. It is used by millions of people to make and share payments. For the average high schooler, it is commonly used to pay other friends back. Let’s say you go out to eat with a friend, you forget your money, and your friend is your only saviour. They might not want to pay for you, but that is when you say, “Don’t worry, I’ll Venmo you back,” which then your friend proceeds to pay for you.

You can send as much or as little money as you want to them by a click of a button.

All you need to do is create an account with the application. You can download the app right from the app store onto your device. Users can link their bank accounts, debit cards, or credit cards to their Venmo account. It can be super convenient to use and is gaining popularity all over the world.

Some people are worried about the security of the app. Scammers are all across the internet looking for what they can hack next. Venmo uses bank-level security. According to the official website, your financial information is encrypted, stored, and protected on secure servers. The website also says to avoid payments to people you do not know since Venmo is designed for payments more with friends/family and people you trust.

If you keep finding yourself in a position where your friend or sibling keeps badgering you to pay them back and you just never have the cash, maybe consider setting up a Venmo account to make those easy transactions.

 

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Venmo: What the heck is it?