Venmo Report

1. Venmo
Patrick Renner | EECS 441

2. ● Digital payments that make life easier
● Friends, classmates, coworkers, strangers

3. Products
- Payment via debit/credit, bank account
- Payments to anyone, anytime

4. Features
- Social news feed
- Privacy settings
- Venmo balance

5. Platforms

6. Business Model
- No charge for debit, bank withdrawals
- 3% charge for credit
- Recently allowed merchants to take payments

7. Pay with Venmo
- Launched in 2016
- Gateway between business and consumers
- 3% charge for merchants

8. Pay with Venmo

11. Financials
- 3Q 2016: $4.9B in payments
- Currently no profit

12. History
Andrew
Kortina
Iqram
Magdon-Ismail

13. History - Venmo
- Founded in 2009
- Originally designed for music
- $1.2M in seed funding (RRE, 2010)

15. History - Braintree
- Founded in 2007
- Mobile/web payment systems

16. History - Paypal
- Founded in 1998
- Electronic alternative to checks
- Online payments

17. What’s hot?
- Fast way to send/receive money - 4 clicks
- Large user base
- Convenient

18. Competition - Peer to Peer

19. Competition - Peer to Peer
Withdrawal
Speed
Payment
methods
Social
newsfeed
Venmo 1 business
day
Credit, debit,
bank, Venmo
account
Yes
Google Wallet 3 business
days
Credit, debit,
bank
No
Square Cash 1-2 business
days
Credit, debit No
Facebook
Messenger
2-3 business
days
Debit No
Snapcash 1-2 business
days
Credit, debit No

20. Prediction
- Stiff competition
- Expand into other P2P areas
- As “Pay with Venmo” grows, so will profits

22. Questions?

23. References
https://techcrunch.com/2010/09/16/venmo-1-2-million-iphone/
http://www.investopedia.com/articles/personal-finance/032415/how-safe-venmo-and-why-it-free.asp
http://www.digitaltrends.com/mobile/paypal-vs-google-wallet-vs-venmo-vs-square-cash/
http://stylecaster.com/differences-between-venmo-and-facebook-friend-to-friend-payment-system/
http://www.ibtimes.com/apple-vs-venmo-how-apple-pay-stacks-against-p2p-payment-competition-square-cash-2181788
http://lifehacker.com/money-transfer-showdown-square-cash-vs-venmo-vs-payp-1752058723
http://blog.venmo.com/hf2t3h4x98p5e13z82pl8j66ngcmry?page=6
http://www.fool.com/investing/general/2016/05/23/will-square-cash-or-venmo-ever-become-a-real-busin.aspx
http://www.barrons.com/articles/paypal-has-big-plans-for-venmo-1485532435
http://www.businessinsider.com/venmo-origin-story-facts-andrew-kortina-2014-6