In this information age, everything becomes digital. Starting from children’s education to top-level business deals. In recent days, you may come across payments also made in digital mode. Let’s explore the Venmo APK in this article.
Wouldn’t it be great if we have the payments application by which we can pay all the sort of payments? It feels great, right!!!
In this article, you’re about to find out What is Venmo? and how does it work and how to use the application? And also we’ll let you know the history and meaning of Venmo.
All About Venmo:-
Venmo apk is a P2P(peer-to-peer) payment application which is available for both iOS and Android users. It’s a simple and secure digital wallet used to send money to friends and make purchases at approved merchants. One interesting fact about Venmo is, you can link your debit or credit card quickly. Venmo is a Latin word and combination of “vendere” and mo. “vendere” means to sell and mo is the short form of mobile.
Features of Venmo
Easy Settings&Paymetns: Venmo considered as the ace of all digital payments applications such as Paypal, Apple Pay Cash and Google Pay because of its convenient mode of payments. Users are allowed to customize the app as per their requirement. If it required, you can let the app to add Contacts or Facebook friends to your Venmo account.
More Secure: With the help of Fingerprint & PIN Code feature, you can protect the app in many ways. Hereby, Noone can open the application without your involvement. It received a lot of applause from a wide range of users due to its secure transactions.
A semi-public feed of Transactions: This app is famous for Public Feed of transactions. In contrast with other application, you can like and comment on the transactions. Somehow, it resembles a social media platform.
NOTE: In order to use Venmo, the sender and receiver should reside in the U.S and the transaction can be made in U.S Dollars Only. This is the paramount prerequisite to use app. Please don’t go for this app if you’re not in the U.S. There are other payments applications in other countries, for instance, Google Pay and Phone Pe are the most reliable digital wallets in India.
History of Venmo?
This company established by Iqram Magdon-Ismail and Andrew Kortina in 2009. Later on, it was acquired by Braintree company in 2012. And again, in 2013 Paypal own this company.
Set Up Venmo
It’s time to know how to Set Up the application. You can download the app from Playstore or App Store. You can sign up the app by using email or Facebook by creating the password. Since you have downloaded the app it’s time to set up a bank account. It can be done any of the two ways. One is by using the internet/online banking username and password and other is by giving account number. After that bank will verify your identity by sending $1 or less than to your account along with simultaneous withdrawal. Usually, it takes three days for the verification. To avoid overdraft charges, please maintain a minimum balance of at least $2.
By adding a bank account, you can start using Venmo. It’s your choice whether you can link Credit or Debit card. You can make the transactions by using either a bank account or card. Unlike other digital wallets, you no need to load the money into Venmo, it directly credits/debits from your bank account. If you want to get the money from your friend, you will need to send a request. To go further, Venmo can also be used for business transactions. Thanks to the developers for the encryption technology to keep the user’s data and transactions more confidentially.
How to Use Venmo
While installing the application, you can give authorization to the app regarding some system-related permissions like allow contacts and Camera. To make a payment to your contacts, tap on the circular icon which is at the bottom right. Now, select the friend you want to make the payment with, input the amount, and select whether to send or receive the money to complete the transaction. You can add your Facebook contacts to the Venmo if they are using the application.
FAQs
Is it Safe to Use Venmo?
Using the app is Safe until unless you have not set your level of the transaction to be public. So always choose your transaction to be Private.
Can I Send Money from Apple Pay Cash to Venmo?
No, You can’t send the money. Venmo and Apple Pay Cash are two different wallets. Install Venmo to send the money.
Is it mandatory to link my Credit/Debit Cards?
No, it is optional to link your cards.
Does this app charge for the transactions?
For sending/receiving money from/to your account, Venmo didn’t charge. But, if you want to send the money from Credit Card, depends on transaction Venmo collects the fee.
Conclusion
When we look at the rankings for topmost digital payments application, Venmo stands position 2. So, this is the most reliable and effective application. You will not get bored by using Venmo as it is known for the semi-public feed of transactions. And the app has brilliant features, you just need to explore them. Install the application by following our guide. If you have any hiccups while dealing with this app, please do comment below. We are happy to help you. Thank you!!!