Venmo turns your phone into your wallet. Through your mobile device, you and your friends can exchange money instantly with this free app.
Have you ever been out to eat with a friend, but neither one of you has cash? Splitting the bill can be a pain, so you offer to get the check and your friend can just pay you back later. But with Venmo, later is now. All your friend has to do is open the app, type in the amount owed, and click send. The money from your friend's account automatically goes into yours.
After that you can either cash out or keep the money "in the app" specifically to make future payments through Venmo.
Another cool feature is being able to describe transactions. If you forget what a certain payment was for, you just have to go back and read the description. This feature also allows you to see what your friends have been up to.
In order to use the app, you obviously must provide credit card information. So the big question is: is this app secure?
After some digging, Venmo seems to be sticking to their word. The only problem users have had with the app was with a software glitch that has since been fixed.
Venmo hits all the points that a payment app should - simple, easy, and secure.
Check out the website and download the app! Venmo is available for iPhone and Android.
Image: Twitter