Venmo has turned from a simple way to pay friends into a cultural juggernaut.
Like “Ubering” and “Googling,” Venmo has become a verb: “Venmo me.” There have been concerns about Venmo’s security and a Federal Trade Commission investigation, but the app has continued its meteoric growth. Venmo, which is now owned by PayPal, saw its volume of payments grow 154% year over year in Q1 of 2016, ballooning to $3.2 billion.
Why? Because Venmo is an easy and free way to pay back your friends when you don’t have cash in your wallet. All it takes is a few clicks.
If you haven’t yet dipped your toe into the Venmo pool, here is a basic walkthrough of the app: