If you had to lose your wallet or your phone, which would you choose?
Obviously losing either would be a major inconvenience but I am willing to bet most of you would choose keeping your phone. As our phones become more integrated with our lives it was only a matter of time that they became our wallets too. In fact, social transactions via mobile devices is a major topic of conversation in the tech space right now.
From Snapchat and Facebook jumping into the ring to apps like Xoom and Square Cash it seems like more options to pay your family, friends and colleagues with a simple tap of a button are popping up by the month. In my opinion the best of the best is Venmo but don’t just take my word for it.
According to thenextweb.com, people sent $1.6B over Venmo in Q2 2015 – more than double this time last year.
So what exactly is Venmo. In short…
Venmo is a free digital wallet app that allows you to quickly and conveniently pay and request money from your friends.
- Splitting a lunch bill
- Paying your friend half of a cab fare
- Sending a roommate rent
- Splitting the cost of ordering a PPV fight
- Paying the person coordinating a sports pool (Think March Madness)
Setting it up is really easy. Simply add your bank or debit card and log in using the same credentials you would use to log into your mobile banking. That’s it! Aside from being incredibly convenient it is also free to both pay people and cash out! Yes, FREE, the best four letter in the world aside from love!
I am in the process of coordinating a Bachelorette Party house rental for a bunch of girls and Vemo has made the entire process seamless. What I love is that you can have people send you the money or send them an invoice.
Worried about the security of this app? I was too but this venmo security made me feel better.
So go ahead and throw out your check book, go to your app store and download Venmo.