Venmo

Founded in 2009, Venmo is a very popular payment tool and social platform in the United States. Venmo provides local payment services, which makes it convenient for users to split bills with friends, and can also pay for online and physical store purchases. The usage is similar to WeChat Pay in China, and 38% of Americans will use this platform.

Transfers between Venmo accounts or to other people are all real-time. When transferring money, you only need to enter the other party's account number, not the credit card number or bank account number. Compared with traditional remittances, it is more convenient to use.

Venmo supports a variety of payment methods, such as bank accounts, debit cards or credit cards, and also launched its own Venmo debit and credit cards.

In 2021, the company processed $230 billion in transactions and generated $850 million in revenue. As of March 2023, Venmo has served more than 2 million merchants and 83 million users.