Social Mobile Payment Service by Venmo to Crush Paypal


[smartads]

VenmoVenmo’s markets pitch: “It’s like your phone and your wallet had a beautiful baby.” The Philadelphia-based startup makes it easy to send money to friends using text messages from your mobile phone and easier still, by using an app designed for your smartphone. Unlike other mobile phone payment apps, such as Google Wallet, Venmo is limiting its service, for now, to peer-to-peer payments.

The Venmo team, comprised of young former college friends from the University of Pennsylvania, is determined to merge the fun aspects of social media with the act of paying your share for a night of beer and burgers. It seems to be catching on with the hip, technically savvy 20-somethings, who wouldn’t dream of leaving the house without their smartphones. Better still, Venmo’s service is now faster than PayPal. A user can cash out a Venmo payment to a bank account and receive the money overnight. PayPal transfers typically take three to five days for the funds to hit your bank account. PayPal had better watch its back.

How Does Venmo Work?

Venmo is still in the beta-testing stage and is operating on an invitation only basis, but invitations are easy to get from existing users. And once you download the app, you can register and use the service. From start to finish, Venmo’s service is easier, cheaper and faster than PayPal’s. You register for a Venmo mobile phone account, link your phone to a credit card and a bank account, download the smartphone app for your iPhone or Android device, and start sending and receiving electronic payments. The Venmo registration process offers instant bank account verification, as opposed to PayPal’s, which takes several days. The service is also free. Venmo doesn’t charge a transaction fee, like PayPal does.

A user can also send a digital payment to a friend without a Venmo account, using their mobile phone number, email or Twitter name. The recipient of the Venmo payment is then notified, and claims the funds by creating an account. Splitting a bar tab, paying your share of rent, utility bills or travel expenses has never been easier.

Venmo’s Social Payments Integrates Social Media

Venmo co-founder Andrew Kortina, told CNN Money during an interview that he designed Venmo to provide “emotional” and “historic” value to users. He envisions Venmo users instantly alerting their friends on Twitter and Facebook, after texting an electronic payment. “The problem we’re solving is one of utility, but it’s also one of social interaction,” said Kortina.

And that’s where Venmo is uniquely different from PayPal and other micro-payment services. Social media platforms, including Facebook, Twitter and Foursquare are not only integrated with the Venmo app, they are an integral part of the experience. Venmo is a social payments service. It’s all about the online social connections that we all have. After sending a pal some electronic dough, while on a fun outing, it makes sense that users would broadcast that fact on social media. That’s what Venmo is banking on, to market its brand and grow its subscriber base.

Venmo’s Gifi App Lets Users Leave Cash for a Friend After Foursquare Check-In

Venmo’s Gifi iPhone app is an expansion of the social component of its peer-to peer payments system. When a friend checks-in using Foursquare, a text message appears announcing a Venmo user sent a cash gift to spend at the particular venue. You can send $5.00 for a cappuccino on you, or $10.00 for a vodka martini. The Gifi app also allows a user to add more fun to the experience by leaving a clue to unlock the Venmo gift. Of course, Gifi also encourages Foursquare check-ins, which is a win-win for both companies

Social Media Sets Venmo Apart

Venmo’s text-based electronic payments service is certainly nothing new. And numerous other mobile payments apps offer more utility with NFC point-of-sale support. But Venmo is trying to change the way friends exchange money in social relationships. And the quirky startup may be on to something. The company also manages to provide quick and easy electronic transfers that make PayPal look a bit long in the tooth. If PayPal wants to stay relevant in this age of online connections and use of social media, it should pay attention to Venmo’s social payments model.

Total
0
Shares
56 comments
  1. There’s a score of reasons why I would NOT want to publicly broadcast the fact I just made a payment to someone–or have it made publicly known I just received a payment from someone, but maybe that’s just ME?

  2. Venmo is not going to crush Paypal.  Venmo doesn’t have the userbase and it is too easy for larger services to replicate Venmo’s model

  3. I simply want to mention I’m very new to weblog and seriously enjoyed you’re blog site. More than likely I’m likely to bookmark your blog post . You definitely have fantastic articles and reviews. Kudos for sharing your web-site.

  4. Greetings! This post has been very useful! Your advice
    is smart and valuable. A couple of changes really
    help a lot! You have assisted me in several ways.Thank you so much.

  5. I love your blog.. very nice colors & theme. Did you make this website yourself or did you hire someone to do it for you? Plz answer back as I’m looking to construct my own blog and would like to find out where u got this from. thanks a lot

  6. Having read this I thought it was really informative. I appreciate you spending some time and energy to put this short article together. I once again find myself personally spending a significant amount of time both reading and posting comments. But so what, it was still worth it!

  7. I have realized that of all kinds of insurance, medical insurance is the most dubious because of the struggle between the insurance company’s obligation to remain making money and the consumer’s need to have insurance plan. Insurance companies’ commission rates on health plans are extremely low, therefore some organizations struggle to generate income. Thanks for the tips you talk about through this blog.

  8. If you dont mind, where do you host your blog? I am searching for a great host and your website seams to be quick and up all the time

  9. I was basically wondering if you ever thought of changing the layout of your website? It is well written; I love what you have got to say. But maybe you can include a little more in the way of content so people can connect to it better. Youve got an awful lot of wording for only having one or two photos. Maybe you can space it out better?

  10. A fascinating argument related to casino and betting agencies is worth my comment. I do think that you ought to write more about this subject, it might not be a taboo subject but typically folks don’t talk about such issues.Casino on-line bets it really is the most effective and secure methods to place your bets at this time. The signup bonuses and special deals are really an eye-catching choice for online poker. People will likely never find these choices in any conventional casino.

  11. I made a lemon meringue pie and kept half of it in the fridge over night. The next day there were small pools of water collected on the plate and seeming to come out of the pie. Does anyone know why or what could be done to prevent this as it obviously made the remainder of it a bit soggy?!.

  12. Wanted to drop a remark and let you know your Feed isnt working today. I tried including it to my Google reader account but got absolutely nothing.

  13. Have you given any thought at all with translating your webpage into German? I know a couple of translaters right here that would certainly help you do it for free if you wanna make contact with me personally.

  14. Whenever I initially left a comment I clicked the Notify me any time new comments are added checkbox and currently each time a remark is added I get four email messages with the same comment.

  15. Great work! That is the type of information that are meant to be shared across the web. Shame on Google for not positioning this post upper! Come on over and consult with my website . Thanks =)

  16. Hi there! I understand this is sort of off-topic but I needed to ask. Does managing a well-established blog like yours require a large amount of work? I’m completely new to writing a blog but I do write in my journal every day. I’d like to start a blog so I will be able to share my own experience and thoughts online. Please let me know if you have any kind of suggestions or tips for brand new aspiring blog owners. Thankyou!

  17. I was basically curious about if you ever thought of changing the page layout of your website? Its very well written; I enjoy what you have got to state. But maybe you can create a little more in the way of written content so people could connect to it better. Youve got an awful lot of text for only having one or two photos. Maybe you can space it out better?

  18. Good site! I truly love how it is simple on my eyes and the data are well written. I am wondering how I might be notified when a new post has been made. I’ve subscribed to your feed which must do the trick! Have a nice day!

  19. Hey, I just hopped over to your site through StumbleUpon. Not somthing I might generally browse, but I appreciated your views none the less. Thank you for making something worthy of browsing.

  20. Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.

  21. There also innumerable web sites out there with achievement tales and scanned pictures of Stormpay and PayPal accounts loaded with some severe cash and the individuals behind these stories will tell you to give them just $forty seven to be a part of their revolutionary program and buy a Ferrari the subsequent month. So, the query is how to discover the very best home primarily based business in network marketing? Whilst a cut and dry solution to this query is not feasible, there are some extremely great safeguards that can be taken to assure that the program you be a part of isn’t just a ploy by some affiliate to get you into their down line and leave you at a free finish following that. Before joining as an affiliate any program that will help you build your house based company, inquire yourself whether the business you are assisting to co-market is operate by an skilled and well set up company or by a new business providing nothing new in phrases of goods besides packaging. There are many longstanding businesses out there, which includes Blue Chip and Fortune five hundred businesses, that are slowly realizing that with the electronic world shrinking and the genuine globe getting more congested, it is good to have as numerous effective affiliates as possible. So, the initial criteria is that the company whose goods you want to sell, have a name that [url=http://www.miumiujpoutlet2013s.com/] miumiu バッグ [/url] purchasers are comfy with [url=http://www.marcjacobsbagsjpn.com/%E3%83%9E%E3%83%BC%E3%82%AF%E3%83%90%E3%82%A4%E3%83%9E%E3%83%BC%E3%82%AF-%E3%83%88%E3%83%BC%E3%83%88-c-42. html] マークバイマークジェイコブスstandard supply tote [/url] in their specific market market. The 2nd stage is a bit tricky and ought to be tackled meticulously. Whilst some businesses have been doing affiliate administration for a long time, there will be others who are just starting in that regard. The differences are obvious. While a company that has been doing this for a while is more stable and has a much more dependable background, it also indicates that you are positioned pretty low in the down line tree. With a more recent business, the chances of building a more healthy down line a [url=http://www.newmonclersalejp.com/%E3%83%A2%E3%83%B3%E3%82%AF%E3%83%AC%E3%83%BC%E3%83%AB-%E3%82%B8%E3%83%A3%E3%82%B1%E3%83%83%E3%83%88-%E3%83%A2%E3%83%B3%E3%82%AF%E3%83%AC%E3%83%BC%E3%83%AB-%E3%82%B8%E3%83%A3%E3%82%B1%E3%83%83%E3%83%88-%E3%83%A1%E3%83%B3%E3%82%BA-c-84_92.html] モンクレール ジャケット メンズ [/url] lot quicker are greater, but then so is the risk of exactly where the business will be next yr. Appear into the particulars of the affiliate program. For instance, [url=http://www.newtoryburchjpsales.com/%E3%83%88%E3%83%AA%E3%83%BC%E3%83%90%E3%83%BC%E3%83%81-2012-%E6%96%B0%E4%BD%9C-c-151.html] トリーバーチ 2012 新作 [/url] can you build numerous down lines? Some programs provide the function that if you sponsor, allow us say, 10 compensated affiliate associates 1 level beneath you, then you are offered bonus down line members, or a greater commission on every sale for each member in your down line. Are there any this kind of benefits? Of course, it goes with out declaring that you ought to study the good print meticulously. There is a extremely bad tendency in people to scroll through Phrases of Support agreements and other procedures or methods and click on the I Concur [url=http://www.newmonclersalejp.com/] モンクレール激安 [/url] button. Please do not do this. You are starting a business, so be company like in [url=http://www.discountmbtsjp.com/] mbt アウトレット [/url] everything you do. Study via every document meticulously. Contact the business for clarification if required. One of the easiest methods to figure out whether or not an affiliate program is real or not, is that you can always get in touch with the company straight and not simply via the upline member who sponsored you. Real businesses have real addresses, telephone figures, and not just an email id. If there is no telephone number, do not turn out to be a member. Upline assistance, however, is also important in the initial stages. Think of the upline associates as your marketing professionals. They know much more about the business and goods (at minimum in [url=http://www.jpmarcjacobsclubs.com/] marc by marc jacobs [/url] the beginning) than you know and can answer your question. There ought to be a very great up line support system available. Naturally, you will not want to sign up with a house [url=http://www.discountmarcjacobsbagsjp.com/%E3%83%9E%E3%83%BC%E3%82%AF%E3%83%90%E3%82%A4%E3%83%9E%E3%83%BC%E3%82%AF-%E3%83%88%E3%83%BC%E3%83%88-c-42.html] marc by marc jacobs preppy tote [/url] based company opportunity that is offering goods that are too typical (think it, you do not want to sell plastic material spoons) or do not have a wholesome marketplace. Finally, you ought to check what kind of advertising tools and direct era methods are becoming supplied to you. A great deal of affiliate applications will sign you up for a nominal quantity and then bill you for direct buy, marketing revenues, and so forth. Do not fall for this ploy. Check everything prior to you pay. Then there is the matter of building your downline. What kind of assist is being supplied there? There are numerous good companies out there providing Funded Sponsoring Franchises. The best idea is to go for those. If you discover it difficult to find this kind of a program, then you should go to some websites providing [url=http://www.miumiujpoutlet2013s.com/] miu miu 店舗 [/url] information on Funded Sponsoring Franchise methods accessible and the companies offering them. Remember that on-line business is not a normal job. Some amount of coaching is inevitably needed and you are much better off with a company with a lengthy track record of effective affiliates. So appear for a home based business that has a reduced startup cost, exceptional goods, up line support, a real telephone quantity, and a module to assist you with lead era and advertising.

  22. If you are critically committed to the concept of turning into a firefighter, we salute you. The task of being a firefighter is difficult, fascinating, rewarding, and very well respected. In reality, there was a survey recently that showed firefighting as the most [url=http://www.newtoryburchjpsales.com/%E3%83%88%E3%83%AA%E3%83%BC%E3%83%90%E3%83%BC%E3%83%81-iphone%E3%82%B1%E3%83%BC%E3%82%B9-c-155.html] トリーバーチ iPhoneケース [/url] revered career in the US. [url=http://www.jpmarcjacobsclubs.com/] marc by marc jacobs [/url] Firefighting was even forward of professions this kind of as doctor and school professor.But to become a firefighter, you must initial understand that there is extreme competition for every position that gets accessible. For that make a difference, there are usually numerous candidates for each and every position – occasionally as many or as ten or fifteen individuals competing for the exact [url=http://www.jpmarcjacobsclubs.com/%E3%83%9E%E3%83%BC%E3%82%AF%E3%83%90%E3%82%A4%E3%83%9E%E3%83%BC%E3%82%AF-%E3%83%88%E3%83%BC%E3%83%88-c-80.html] マークバイマークジェイコブストート [/url] same opening.This means it is critical for you to comprehend what it requires to acquire a firefighting position. The process begins with understanding where to appear for firefighting work. Clearly, the initial place is your nearby newspaper and the best place to find firefighter placements in its Sunday version. If you do not reside in a major town with a newspaper that [url=http://www.newtoryburchjpsales.com/] トリーバーチ 靴 [/url] has a leadinga Sunday version, you might go to your local library on Monday and check for categorized ads [url=http://www.jptimberlandsale.com] timberland 靴 [/url] for firefighters in nearby large metropolitan areas. For example, if you lived in Wray, Colorado, your best wager would be the Sunday edition of the Denver Post.The subsequent stepThe subsequent [url=http://www.jptoryburchsales.com/%E3%83%88%E3%83%AA%E3%83%BC%E3%83%90%E3%83%BC%E3%83%81-%E3%83%88%E3%83%BC%E3%83%88-c-1.html] トリーバーチ トート [/url] step in how to become a firefighter is to a get and fill out an software. You can generally get information about the exam and application process from your city’s department of staff (or HR department) or from your nearby hearth division. You may also be able acquire an application from your school advice office or your nearby library. To start the software process you should locate the appropriate companies and give them a call. When you contact, be sure to have a pencil and paper ready to create down any directions or instructions you are given. You can clarify that you require. one. Information about the examination2. The application itself3. The correct process for filling out the applicationThe written examThe subsequent stage towards winning that coveted badge will be a created evaluation. The typical created firefighter examination takes about three one/two hrs and might include one hundred or much more questions. The very best way to put together for a created exam is to get a book on firefighter examinations. There are a number of accessible by way of the Internet and [url=http://www.jpmonclerdownshop.com] モンクレール アウトレット [/url] if you are willing to settle for a utilized copy, they are generally affordable.Assuming you rating high enough on the written examination to carry on the procedure, you’ll next be required to take a bodily test. These tests are developed to simulate [url=http://www.monclerdowndressjp. com] モンクレール ダウンジャケット [/url] real firefighting duties, and consist of workouts this kind [url=http://www.jptimberlandsale.com/%E3%83%A1%E3%83%B3%E3%82%BA-%E3%83%86%E3%82%A3%E3%83%B3%E3%83%90%E3%83%BC%E3%83%A9%E3%83%B3%E3%83%89-%EF%BC%96%E3%82%A4%E3%83%B3%E3%83%81-c-11.html] ティンバーランド 防水 [/url] of as hose drag, hose have, ladder climbing, latter raise and victim removal. You will most most likely be required to do these while sporting firefighter clothing and gear, and to total the tasks inside a stated quantity of time. The bodily and psychological evaluationThe subsequent stage will be a bodily examination, adopted by a emotional evaluation. The work of a firefighter is often demanding and performed below harsh conditions. The objective of the emotional analysis is to make certain that you can function well under these conditions will and that you will work well with other associates of your team.This, in brief, is how to turn out to be a firefighter. We congratulate you on your option of occupations and want you well in your quest.

  23. I think this is one of the most important information for me. And i am glad reading your article. But should remark on some general things, The site style is perfect, the articles is really excellent : D. Good job, cheers

  24. Opposite to popular perception, credit score card do not have disadvantages with them. Credit score cards are for our comfort. They are great monetary tools which, if utilized correctly promise a [url=http://www.jpmonclerdownshop.com] モンクレール ダウン [/url] good monetary future. What should one do so that the experience of possessing a credit score card stays good and affluent? If this query is nagging you, then [url=http://www.marcjacobsbagsjpn.com/%E3%83%9E%E3%83%BC%E3%82%AF%E3%83%90%E3%82%A4%E3%83%9E%E3%83%BC%E3%82%AF-%E3%83%88%E3%83%BC%E3%83%88-c-42.html] マークバイマークジェイコブスバッグ ナイロン [/url] read on. This articles requires a look at 5 vital actions to make sure this happens.one. Can’t you do with out that credit score card?Yes, however awkward it might appear but, this is the first question that everybody should ask himself before going for another credit card. Too many Americans are getting much more than one card already. Including 1 will only improve the load, if not used wisely. So, unless absolutely important do not go for a new credit card. 2. Your credit score scoreEvery credit rating company is obliged to give a totally free annual credit report if questioned to do so. By all means do it, maintaining a monitor of your credit score rating will help you gauge what the credit score card companies are prepared to give you. A good credit score rating can get [url=http://www.marcjacobsbagsjpn.com/marc-by-marc-jacobs-core-pretty-lil-tate-little-tote-%E3%83%88%E3%83%BC%E3%83%88-p-67.html] マークバイマークジェイコブス マザーズバッグ [/url] you a Gold card, while excellent can help you get that Platinum credit card. If the credit scores are not good, there is no use applying for highly rated credit score cards. It will save you a great deal of time, cash and prevent embarrassments due to rejection if you apply for the ‘right’ credit score card.3. Shop aroundThere are lots of credit card companies out there, and so are the quantity of credit [url=http://www.miumiujp2013.com/%E3%83%9F%E3%83%A5%E3%82%A6%E3%83%9F%E3%83%A5%E3%82%A6%E3%83%90%E3%83%83%E3%82%B0-c-95.html] miumiu 新作 バッグ [/url] cards. At any [url=http://www.jptimberlandsale.com] ティンバーランド [/url] given stage of time there can be many offers, with [url=http://www.marcjacobsbagsjpn. com/%E3%83%9E%E3%83%BC%E3%82%AF%E3%83%90%E3%82%A4%E3%83%9E%E3%83%BC%E3%82%AF-%E3%83%90%E3%83%83%E3%82%B0-c-37.html] マークジェイコブス バッグ [/url] various features that can fit a person with a specific credit score rating. So, to conserve time, money, and get the correct credit score card, it is [url=http://www.newmonclerdownsjp.com/%E3%82%B8%E3%83%A3%E3%82%B1%E3%83%83%E3%83%88-%E3%83%A2%E3%83%B3%E3%82%AF%E3%83%AC%E3%83%BC%E3%83%AB-%E3%83%A1%E3%83%B3%E3%82%BA-%E3%82%B8%E3%83%A3%E3%82%B1%E3%83%83%E3%83%88-c-94_95.html] moncler 2012 [/url] better to evaluate various credit score card provides. This can be effortlessly accomplished at numerous credit score card comparison web sites. Evaluating offers aspect by aspect will give you a right image of what the credit score card company is providing you.4. Use onlineThere are many advantages of making use of on-line which save a great deal of time, cash and work. Limited or no paperwork, immediate decision, no running to banks, and [url=http://www.newtoryburch2013.com/%E3%83%88%E3%83%AA%E3%83%BC%E3%83%90%E3%83%BC%E3%83%81-%E3%82%B3%E3%82%B9%E3%83%A1%E3%83%9D%E3%83%BC%E3%83%81-c-98.html] トリーバーチ コスメポーチ [/url] performing it all from the convenience of your house definitely matters. It pays [url=http://www.newmonclerjacketsdown.com/] モンクレール アウトレット [/url] to take the benefit of technologies.5. Repay regularlyOnce you have that credit score card, don’t simply go out and squander your cash like hell. Remember, credit score card cash is a mortgage and it has to be repaid with interest. The much better you are on the repayment front the much better it will be for your credit report and credit rating. Else, spending your life with credit card financial debt is the only choice.1 error that most individuals make that frequently costs them dearly is not studying the credit card phrases and circumstances carefully. Make certain that you study each and every good print whilst applying for the credit card. If there are doubts, just get them cleared prior to continuing. Don’t assume something. Obtaining the facts straight will usually help your cause, and won’t produce any uncomfortable situation later on on. The simple steps talked about over will ensure that your credit card expertise remains a great 1.

  25. Hello, you used to write magnificent, but the last few posts have been kinda boringˇK I miss your tremendous writings. Past several posts are just a little out of track! come on!

  26. Hello there, I found your web site by way of Google even as searching for a similar topic, your site got here up, it appears great. I’ve bookmarked it in my google bookmarks. Hi there, just turned into alert to your blog via Google, and found that it’s really informative. I’m going to watch out for brussels. I’ll be grateful for those who continue this in future. Numerous other folks will be benefited from your writing. Cheers!

  27. Heya i am for the first time here. I came across this board and I find It really useful & it helped me out a lot. I hope to give something back and aid others like you helped me.

  28. 100% all natural solution for you to an under active thyroid & maternity difficulties. In case you are concerned about your own unborn new born’s health this can be the answer for you personally

  29. Heya i am for the first time here. I came across this board and I find It really useful & it helped me out a lot. I hope to give something back and aid others like you helped me.

  30. Hi, I check your new stuff on a regular basis. Your story-telling style is awesome, keep up the good work!

  31. Pretty part of content. I just stumbled upon your blog and in accession capital to say that I get in fact loved account your blog posts. Anyway I’ll be subscribing to your augment or even I fulfillment you get admission to persistently quickly.

  32. Fantastic goods from you, man. I’ve understand your stuff previous to and you are just too magnificent. I actually like what you have acquired here, really like what you are stating and the way in which you say it. You make it entertaining and you still care for to keep it wise. I cant wait to read far more from you. This is actually a wonderful site.

  33. There is no phone number to call anyone at venmo. They freeze your account for no reason and its been over a month I have not been able to find a solution. At least there is a way to contact PayPal. With venmo you are just out in your own. I sent three emails. No response. Terrible customer service.

Comments are closed.

Related Posts