Venmo

Extracted Attributes

• Name

  Venmo

• Type

  Mobile payment service

• Owner

  PayPal

• Founded

  2009-01-01

• Founders

  Andrew Kortina, Iqram Magdon-Ismail

• Headquarters

  New York City, United States

• Key Features

  Mobile app, social feed for transactions, debit card, credit card, business payment services, cryptocurrency support

• Revenue (2021)

  US$850 million

• Primary Purpose

  Peer-to-peer payments, bill splitting

• Security Measures

  Data encryption, fraud monitoring

• Country of Operation

  United States

• Default Privacy Setting

  Publishes peer-to-peer transactions (excluding amount)

• Transaction Volume (2021)

  US$230 billion

Timeline

• Venmo was founded. (Source: summary, Wikipedia, DBPedia, Wikidata)

  2009-01-01

• Venmo was acquired by PayPal. (Source: summary, Wikipedia, DBPedia)

  2013-XX-XX

• Venmo settled with the Federal Trade Commission (FTC) regarding several privacy and security violations, leading to changes in settings. (Source: summary, Wikipedia, DBPedia)

  2018-XX-XX

• PayPal announced that Venmo would allow users to purchase and use cryptocurrencies. (Source: web_search_results)

  2020-10-XX

• Venmo processed US$230 billion in transactions. (Source: summary, Wikipedia, DBPedia)

  2021-XX-XX

• Venmo generated US$850 million in revenue. (Source: summary, Wikipedia, DBPedia)

  2021-XX-XX

• Cryptocurrency support for Bitcoin, Bitcoin Cash, Ethereum, and Litecoin was rolled out in select foreign markets. (Source: web_search_results)

  2021-XX-XX

Venmo

Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2013. Venmo is aimed at users who wish to split their bills. Account holders can transfer funds to others via a mobile phone app; both the sender and receiver must live in the United States. Venmo also operates as a small social network, as users can observe other users' public transactions with posts and emoticons. In 2021, the company handled US$230 billion in transactions and generated US$850 million in revenue. Users can view transactions on the Venmo website but cannot complete transactions on the website. By default, Venmo publishes every peer-to-peer transaction (excluding the amount), a feature shown by researchers to reveal sensitive details about users' lives in some situations. In 2018, the company settled with the Federal Trade Commission (FTC) about several privacy and security violations related to this and other features, and made changes to the corresponding settings. However, Venmo continued to attract criticism for exposing users to possible privacy risks.

Web Search Results

• Venmo - Wikipedia

  Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2013. Venmo is aimed at users who wish to split their bills. Account holders can transfer funds to others via a mobile phone app; both the sender and receiver must live in the United States. Venmo also operates as a small social network, as users can observe other users' public transactions with posts and emoticons. In 2021, the company handled US$230 billion in transactions and generated US$850 million in [...] Venmo was founded by Andrew Kortina and Iqram Magdon-Ismail, who met as freshman roommates at the University of Pennsylvania. According to Kortina, the duo were initially inspired to create a transaction solution while, in the process of helping start a friend's yogurt shop, they "realized how horrible traditional point of sales software was". At a local jazz show, Kortina and Magdon-Ismail conceived the idea of instantly buying an MP3 of the show via text message. Finally, the idea was [...] In October 2020, PayPal announced that Venmo along with PayPal services will allow users to purchase and use cryptocurrencies such as bitcoin, Bitcoin Cash, Ethereum, and Litecoin in select foreign markets starting in the first half of 2021.

• What is Venmo and how does it work? - Wise

  Venmo is a service that enables you to make payments and money requests to friends¹. Basically, Venmo offers a more social approach to paying those you owe by combining regular money transfer features with social media elements. With Venmo, you can send money from your bank account to other users or receive funds from them into your bank account. It also helps you use your contact information such as phone numbers, email addresses and even Facebook friend lists to issue payments. [...] Venmo enables you to connect your bank account and move money back and forth so that it's where you want it when you want it. You can use it to receive payments and also make payments either with the money in your Venmo account, or from a funding source you’ve connected, like a debit card. The app allows you to share the payments you make to friends, family or approved businesses with a comment, just like the way you make a typical social media post. Venmo is available in the US only. [...] Venmo is a service in part due to its unique approach to payments such as making up the difference on your account balance by drawing from a connected funding source. The same goes for its social aspect, which can help people connect more and discover amazing products and services. However, it's location and currency coverage are restricted to the US, so it's always an option to look at a far-reaching alternative like Wise. \\Sources:\\

• How does Venmo work, and is it safe to use? - Yahoo Finance

  ## What is Venmo, and how does it work? Venmo is a payment platform owned by PayPal. The service, which offers both a mobile and browser application, makes it possible to split bills, track your expenses, and pay other people and small businesses for goods and services. Venmo also offers a debit card and a credit card, which you can use seamlessly with its peer-to-peer payment service. Here are more details about what the platform offers. ### Peer-to-peer payments [...] Data encryption: Venmo is a regulated money transfer service that's required to comply with certain laws surrounding data security. In particular, the company encrypts your financial account details to prevent hackers from stealing it. Fraud monitoring: Venmo monitors your account activity to help you identify fraudulent transactions, and you can get help if someone uses your account to send or transfer money without your permission. [...] # What is Venmo, how does it work, and is it safe to use? B Ben Luthi 6 min read Venmo is a peer-to-peer payment platform that allows you to send money to friends, family members, and others quickly and conveniently. It also offers business payment services, which come with extra consumer protections. If you're thinking about using Venmo, here's what you need to know about how it works, what you can do with the app, and the potential downsides to consider.

• What Is Venmo? - NerdWallet

  Transfers and purchases. Venmo lets you send money to and request money from anyone who has a Venmo account. The app can help with the awkward chore of reimbursing family or friends for dinner out or other shared expenses, but it’s not intended for buying or selling goods among strangers. Venmo can also be used for web purchases with certain merchants or on websites with a Venmo payment button similar to PayPal’s. [...] Assistant Assigning Editor ALSO CONSIDER: PayPal || Zelle || Cash App || Apple Pay Cash || Top P2P payment apps ## What is Venmo? Venmo is a mobile app for peer-to-peer, or P2P, money transfers and payments. It’s known for its timeline feed where you and your connections in the app can send payments to each other with emoji messages, but don't worry: The dollar amounts of transfers always remain private. » See more transfer options: Top peer-to-peer payment apps ## How does Venmo work?

• Venmo: Send, Receive, and Pay with Ease | PayPal US

  Help Center - Personal Account Home My Account PayPal Basics Home Payments and Transfers Disputes and Limitations My Account My Wallet Login & Security Seller Tools # What is Venmo and how does it work? Venmo is a social payment service to make and share payments with friends, family, and businesses in the United States. It’s like PayPal, but is unique in that, on Venmo, you can share and like payments through a social feed. Use Venmo to:

• Image

  

• Country

  United States

• Founder

  Andrew Kortina

• Instance Of

  Q7397

• Headquarters

  New York City

• Inception Date

  1/1/2009

Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2013. Venmo was aimed at friends and family who wish to split bills, e.g. for movies, dinner, rent, or event tickets etc. Account holders can transfer funds to others via a mobile phone app; both the sender and receiver must live in the United States. On Venmo, a little social network, users can observe how others who are sending money to one another interact with amusing emoticons. In 2021 the company handled $230 billion in transactions and generated $850 million in revenue. By default, Venmo publishes every peer-to-peer transaction (excluding the amount), a feature shown by researchers to reveal sensitive details about users' lives in some situations. In 2018, the company settled with the Federal Trade Commission about several privacy and security violations related to this and other features, and made changes to the corresponding settings. However, Venmo continued to attract criticism for exposing users to possible privacy risks.