Last September Venmo, a mobile payment platform, launched its first nationwide promotional campaign. Its ads appear now on posters, billboard, pizza boxes, TV, Internet sites like Youtube and Hulu. Venmo simplies money transfer between individuals. The app has enjoyed rapid growth among young customers and as it allows them to easily split tabs among friends, share the rent or social event expenses, etc.
It offers a convenient alternative to cash and checks. The app is connected to one’s bank account, credit or debit card. It is mostly safe when used with friends and individuals you trust. However, when used to pay for online purchases to people you do not know, it may potentially carry a high risk.
To learn more about the platform that is often erroneously thought to be instant and can fool online sellers, see this article published by the CBBB.