This post is all about extolling the virtues of a little app called Venmo .
As a graduate student and someone who loves to travel, dine out, and perhaps bar hop a little too much, it’s been instrumental getting me a bunch of extra miles and points over the last several months. “I’ll Venmo you” has become the defacto method for payment among nearly all of my friends who aren’t as obsessed with credit card rewards as I am.
Here’s the basic premise:
- Do something with a group of friends (dine out, pay for a round of shots, pick up the hotel bill)
- Volunteer to pick up the bill on your rewards-earning credit card
- Have your friends Venmo you from their bank account or Venmo balance
Venmo users link their bank account information and are able to make fee-free payments quickly and easily from their smartphones or computer.
Once my friends started using Venmo, and realized the ease of use and convenience that it brought, they became hooked. Not a ton of people carry cash these days, and Venmo fiils the void perfectly.
One of the quirky things that Venmo enables users to do is write what the payment is for, and subsequently any of either users friends can see it. This leads to some interesting interactions, one of which I found while searching for a pic for this article. I took the following screenshot from the main page of Venmo.com. When you see it…
You can set a payment to be private if you don’t want others to see what you’re buying