Instant Alert: How to use Venmo, the app that young people are replacing cash with

MANAGE SUBSCRIPTIONS   |   UNSUBSCRIBE   |   VIEW ONLINE   How to use Venmo, the app that young people are replacing cash with by Nathan McAlone on May 3, 2016, 2:24 PM Advertisement Venmo has turned from a simple way to pay friends into a cultural juggernaut. Like "Ubering" and "Googling," Venmo has become a verb: "Venmo me." There have been concerns about Venmo's security and a Federal Trade Commission investigation, but the app has continued its meteoric growth. Venmo, which is now owned by PayPal, saw its volume of payments grow 154% year over year in Q1 of 2016, ballooning to $3.2 billion. Why? Because Venmo is an easy and free way to pay back your friends when you don't have cash in your wallet. All it takes is a few clicks. If you haven't yet dipped your toe into the Venmo pool, here is a basic walkthrough of the app: When you open the Venmo app, you are taken to your personal feed, which shows your history of transactions. To get to the main Venmo menu you tap the "hamburger icon" in the upper left. To send and receive money, you need to link a bank account or debit card. You can do this under the "Settings" tab. You can link your checking account or you can also link a credit or debit card (though a 3% fee applies credit cards, and some debit cards). Most people use their checking accounts. See the rest of the story at Business Insider   Share the latest business news with your network: Email sent to:   |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Avenue, New York, NY 10011