Need to split a lunch check? Or split a cab fare? There is now an app for that called, Venmo.
This app allows users to exchange exact payments within their social circles via their smartphone. After downloading the app, users simply need to link their bank account or debit card to the app. This app will then link users' Facebook friends and email contacts so that users can transfer or receive payments to or from specific friends. Transactions can process as quickly as over night on business days.
The great thing about the Venmo app is that it does not charge transaction fees for transferring through bank accounts or debit cards, like many of its competitors. Though it does charge a 3 percent transaction fee if users are using a credit card as a form of payment.
Of course, questions about how secure this app is will emerge. The Venmo app makes sure that transaction processes are as secure as possible. All data is sent over the same encryption method that is used to protect classified government information and the transactions are protected by the Federal Deposit Insurance Corporation.
The Venmo app is trustworthy, convenient, and very easy to use. For most people who do not tend to carry around change, an extact payment for $3.49 to a friend for buying coffee can now be so simple. Make life easier by downloading the Venmo app.
The Venmo app is available for FREE for both Android and iOS users!
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