Venmo is a digital payment platform that allows users to send and receive money from friends and contacts via their debit cards, credit cards, or bank accounts. It launched in 2009 and was originally designed for music payments. In 2016, Venmo processed $4.9 billion in payments, though it is currently unprofitable. Venmo faces competition from other peer-to-peer payment apps like Google Wallet, Square Cash, and Facebook Messenger payments, but it distinguishes itself with features like its social newsfeed and fast one business day withdrawal times.

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