by: Lauren Coffey
The app is called Venmo (brought to us by the creators of Angry Birds), and here’s how it works:
Venmo users can sign up with Facebook or email, depending on their personal preferences. That’s honestly just about as complicated as it will get. Venmo is free to use, and it is easy to use. Every time you are paid back by friends, that money is available that same day for you to deposit right into your own bank account.
Here is a list of Venmo’s features (according to the iTunes preview):
• Make and share payments with friends for rent, utilities, dinner, drinks, movies, concert tickets, birthdays, laughs, etc.
• Pay with your debit card or bank account for free
• Easily collect money from people who owe you
• Transfer money you receive in your Venmo account balance to your bank account overnight
• Bank-grade 256-bit encryption and Verisign Certified
• Never write another check, pay an ATM fee, owe or be owed money again!
• New: Venmo Touch enables one touch checkout in many of your favorite apps
In my opinion, this app is an innovative stroke of genius. I personally use Venmo at least once a week, and it has made my life that much simpler. I no longer worry about getting paid back by friends. It has eliminated the awkwardness of approaching people for money that they owe me, and vice versa; I no longer have to think about whether or not I have returned borrowed money. Venmo takes care of everything for me.
Also, Venmo negates the need for anyone, especially college students, to carry too much cash at one time. All you need now is your phone with the Venmo app on it and your debit card. Don’t ever worry again about splitting the check, dividing the heating or water bill, getting paid back for the last Redbox rental you made for your friends, and so much more! Download Venmo today. I guarantee you will not regret it.