How Venmo Works
Published in
1 min readAug 31, 2018
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.
- Who owns Venmo?
- Why is Venmo free?
- Is Venmo safe?
- The P2P transactions industry in a nutshell
- Venmo origin story
- When “Venmo me” became a verb
- Branding campaigns to make Venmo into a cult
- Venmo “Blank Me” campaign
- Venmo voice search command for Siri
- Make the brand Venmo fresh, fun and cool
- How much money does Venmo make?
- How does Venmo work?
- Key takeaways