How Venmo Works

Gennaro Cuofano
Aug 31, 2018 · 1 min read

Venmo got acquired in 2012 by Braintree. Braintree was acquired in 2013 by PayPal. Thus, Venmo is part of PayPal ecosystem.

Venmo is a peer-to-peer payments app that allows users to share and make payments with friends for a variety of services.

When you send money using your Venmo balance the fees are wained. Thus the service is free. However, the 3% fee applies to credit cards. That is how the company generates revenues.

Gennaro Cuofano

Written by

Creator of FourWeekMBA.com | Head of BizDev at WordLift.io

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