Venmo Is The ‘Killer App’ That The Mobile Payments Industry Has Been Waiting For
Venmo, owned by eBay’s PayPal unit, already channels as much volume in total dollar value of transactions as Starbucks’ successful mobile payment app, according to BI Intelligence’s estimates.
Venmo allows users to easily send money back-and-forth to one another for expenses like rent, restaurant and bar checks, and event tickets. Venmo is free to use and appears to be gaining the most traction with U.S. smartphone users in their late teens and twenties. It’s very popular on college campuses.