TECH TALK

Venmo Application

Peer-to-peer mobile payment.

In Summary

•It smoothens the flow of money between friends, turning it into a social entertainment.

•It works well with both Android and iOS

People have changed the way they do their money transactions.

In the past, it was done through the bank where one would physically go and withdraw money but that ended with the invention of M-Pesa where one would do a wireless transaction.

With these developments in place, there is an application that can enable you to pay as well as receive money from known as Venmo but what makes it stand out is the highest profile peer-to-peer mobile payment app.

It smoothens the flow of money between friends, turning it into a social entertainment.

It works well with both Android and iOS. Its sign up page clearly shows all the service charges. You have an option of signing up with your Facebook account or by confirming your email address, name, mobile number and password.

You will then need to confirm the account via SMS text then designate and verify bank account details for your profile by entering debit card details or account details.

There after, you can connect with friends already on the platform usually via Facebook. To give and get money from your friends, this app needs to know who your friends are.

It will analyze your phone contact list to find fellow Venmo users. On the other hand, you can also invite anyone you know to try out the service.

These two methods work fine and if you are not connected on a social platform then have a contact who is in range, you can have them scan a QR code to connect for payment.

To make a request for payment, you tap the Pay or Request button, select a friend, choose between paying money or asking for it, write a description for the transaction and you ta Pay or Request.

The Venmo codes feature has simplified performing a transaction with someone you are physically present with but with whom you are not friends on Facebook.

With it, you simply point the camera at the recipient’s QR code and you can request or send money.

The transactions are visible by default but it is easy to restrict the information to participants only in settings and clicking on Privacy and sharing. Also in the same settings, you can opt to prevent anyone from sharing your activity.

This app is powered by the payment experts at PayPal meaning security is backed by it heavy-duty systems and encryption.

There is a good process for locking your account if you lose the device on which you installed Venmo.

One of the selling points for this app is the Custom Animated stickers. This brings fun to the payments with not only posts and comments but also emojis.

These new emojis are animated for even more fun. Its strong execution and clear focus makes it one of the best overall mobile payment system as long as you understand the possible privacy concerns with its default settings.