What is Venmo?įounded in 2009 and bought by PayPal in 2012, mobile payment service Venmo allows users to split bills (such as rent, movie tickets, and bar tabs) with family and friends by making and receiving payments with a user-friendly app. Read on to learn more about this popular digital payment method, including an overview of the platform, how it works, and how to accept Venmo payments as a general user and business owner. (On average, Americans - specifically millennials, Gen Xers, and baby boomers - carry only $46 in cash.) And even though cash use was already on the decline before COVID-19, the global pandemic only sped up the trend, normalizing contactless pickup, delivery, and transactions of all shapes and sizes.īy encouraging digital, contactless convenience, COVID-19 also popularized sending and receiving digital payments, as with well-known, widely used mobile payment service Venmo.
With all this digital convenience, it’s no wonder society is increasingly cashless. You can even order, pay for, and have your groceries delivered to your doorstep without ever leaving your home. From furniture and mortgages to ride shares and takeout, it seems everything these days can be paid for, and even tipped, online.
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