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Venmo is a mobile payment service that is now a part of PayPal.

It allows users
to transfer money between one another using a mobile phone app or web interface.
In the third quarter of 2014, Venmo processed $700 million of payments between
people.[1] Venmo strictly prohibits the use of their service to purchase merchan
dise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c

ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.

Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they

started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]

Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me

t as freshman roommates at the University of Pennsylvania. According to Kortina,


the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also

4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]

History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]

1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,

the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib

its the use of their service to purchase merchandise.[2]


Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a

nd the California Office of Business Oversight.[5][6][7]


A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic

e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security

is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.

Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr

ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.

Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,

the idea of Venmo


to visit Kortina.
started working on
ototype sent money
text messages to a

originated when Magdon-Ismail forgot his wallet during a trip


The process of settling their accounts was a hassle, so they
a way to send money through mobile devices. Their original pr
through text messages, but they eventually transitioned from
mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References

5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]

History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service

2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'

s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]

Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]

A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an

other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo
eir bank accounts,
ards have a 3% fee
is bank grade, and

balance that is used for their transactions. They can link th


debit cards, or credit cards to their Venmo account. Credit c
for each transaction.[3] Venmo has claimed that its security
that personal and financial data are encrypted and protected

on secure servers to guard against any unauthorized transactions,[4] however, th


ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br

aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th

eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from

text messages to a mobile app.[10]


In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o

thers who have created an account.


Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip

to visit Kortina.
started working on
ototype sent money
text messages to a

The process of settling their accounts was a hassle, so they


a way to send money through mobile devices. Their original pr
through text messages, but they eventually transitioned from
mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links

Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]

Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History

3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m

ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]

Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]

A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V

enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th

ese security claims have been questioned by journalists, security researchers, a


nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to

let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic


e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c

ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.

Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they

started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]

Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me

t as freshman roommates at the University of Pennsylvania. According to Kortina,


the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also

4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]

History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]

1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,

the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib

its the use of their service to purchase merchandise.[2]


Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a

nd the California Office of Business Oversight.[5][6][7]


A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic

e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security

is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.

Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr

ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.

Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,

the idea of Venmo


to visit Kortina.
started working on
ototype sent money
text messages to a

originated when Magdon-Ismail forgot his wallet during a trip


The process of settling their accounts was a hassle, so they
a way to send money through mobile devices. Their original pr
through text messages, but they eventually transitioned from
mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References

5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]

History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service

2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'

s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]

Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]

A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an

other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo
eir bank accounts,
ards have a 3% fee
is bank grade, and

balance that is used for their transactions. They can link th


debit cards, or credit cards to their Venmo account. Credit c
for each transaction.[3] Venmo has claimed that its security
that personal and financial data are encrypted and protected

on secure servers to guard against any unauthorized transactions,[4] however, th


ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br

aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th

eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from

text messages to a mobile app.[10]


In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o

thers who have created an account.


Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip

to visit Kortina.
started working on
ototype sent money
text messages to a

The process of settling their accounts was a hassle, so they


a way to send money through mobile devices. Their original pr
through text messages, but they eventually transitioned from
mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links

Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]

Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History

3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m

ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]

Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]

A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V

enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th

ese security claims have been questioned by journalists, security researchers, a


nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to

let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic


e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c

ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.

Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they

started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]

Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me

t as freshman roommates at the University of Pennsylvania. According to Kortina,


the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also

4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]

History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]

1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,

the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib

its the use of their service to purchase merchandise.[2]


Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a

nd the California Office of Business Oversight.[5][6][7]


A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic

e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security

is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.

Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr

ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.

Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,

the idea of Venmo


to visit Kortina.
started working on
ototype sent money
text messages to a

originated when Magdon-Ismail forgot his wallet during a trip


The process of settling their accounts was a hassle, so they
a way to send money through mobile devices. Their original pr
through text messages, but they eventually transitioned from
mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References

5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]

History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service

2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'

s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]

Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]

A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an

other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo
eir bank accounts,
ards have a 3% fee
is bank grade, and

balance that is used for their transactions. They can link th


debit cards, or credit cards to their Venmo account. Credit c
for each transaction.[3] Venmo has claimed that its security
that personal and financial data are encrypted and protected

on secure servers to guard against any unauthorized transactions,[4] however, th


ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br

aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th

eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from

text messages to a mobile app.[10]


In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o

thers who have created an account.


Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip

to visit Kortina.
started working on
ototype sent money
text messages to a

The process of settling their accounts was a hassle, so they


a way to send money through mobile devices. Their original pr
through text messages, but they eventually transitioned from
mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links

Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]

Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History

3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m

ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]

Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]

A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V

enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th

ese security claims have been questioned by journalists, security researchers, a


nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to

let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic


e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c

ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.

Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they

started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]

Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me

t as freshman roommates at the University of Pennsylvania. According to Kortina,


the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also

4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]

History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]

1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,

the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib

its the use of their service to purchase merchandise.[2]


Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a

nd the California Office of Business Oversight.[5][6][7]


A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic

e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security

is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.

Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr

ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.

Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,

the idea of Venmo


to visit Kortina.
started working on
ototype sent money
text messages to a

originated when Magdon-Ismail forgot his wallet during a trip


The process of settling their accounts was a hassle, so they
a way to send money through mobile devices. Their original pr
through text messages, but they eventually transitioned from
mobile app.[10]

In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References

5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]

History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service

2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'

s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]

Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]

A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an

other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo
eir bank accounts,
ards have a 3% fee
is bank grade, and

balance that is used for their transactions. They can link th


debit cards, or credit cards to their Venmo account. Credit c
for each transaction.[3] Venmo has claimed that its security
that personal and financial data are encrypted and protected

on secure servers to guard against any unauthorized transactions,[4] however, th


ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br
aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]Venmo is a mobile payment servic
e that is now a part of PayPal. It allows users to transfer money between one an
other using a mobile phone app or web interface. In the third quarter of 2014, V
enmo processed $700 million of payments between people.[1] Venmo strictly prohib
its the use of their service to purchase merchandise.[2]
Contents [hide]
1
Service
2
History
3
See also
4
References
5
External links
Service[edit]
Venmo is a mobile payment service that lets users transfer money to each other.
Users sign up using their mobile app or on the Venmo website and they can find o
thers who have created an account.
Users have a Venmo balance that is used for their transactions. They can link th
eir bank accounts, debit cards, or credit cards to their Venmo account. Credit c
ards have a 3% fee for each transaction.[3] Venmo has claimed that its security
is bank grade, and that personal and financial data are encrypted and protected
on secure servers to guard against any unauthorized transactions,[4] however, th
ese security claims have been questioned by journalists, security researchers, a
nd the California Office of Business Oversight.[5][6][7]
A unique aspect of Venmo is its social aspect. When a user makes a transaction,
the transaction details (stripped of the payment amount) are shared on the user'
s "news feed" and to the user's network of friends.[8] The transactions can be m
ade private, but most users do not change the privacy settings.[9]
History[edit]
Venmo was founded by two friends, Andrew Kortina and Iqram Magdon-Ismail, who me
t as freshman roommates at the University of Pennsylvania. According to Kortina,
the idea of Venmo originated when Magdon-Ismail forgot his wallet during a trip
to visit Kortina. The process of settling their accounts was a hassle, so they
started working on a way to send money through mobile devices. Their original pr
ototype sent money through text messages, but they eventually transitioned from
text messages to a mobile app.[10]
In 2012, Braintree acquired Venmo for $26.2 million. In 2013, PayPal acquired Br

aintree for $800 million.[10] PayPal announced in October 2015 that it plans to
let merchants accept payments through Venmo.[11]