Venmo is an American mobile payment company that was founded in 2009 and controlled by PayPal since 2012.
Venmo is a payment app which lets users transfer and receive cash pay for transactions, as well as buy cryptocurrency.
Account holders are able to transfer funds to another person using the mobile phone app. the receiver and sender must reside in the United States.
Venmo is also employed to pay freelance workers. The app comes with an unique MasterCard debit card, as well.
Some services are charged for certain features, like instant money transfers or the depositing of checks.
Merchants that accept Venmo contribute the majority of the Venmo's charges.
In 2021, the company processed $230 billion of transactions and earned $850 million in revenues.