Author: John Lewis
Digital payments have been steadily increasing across the U.S., with 82% of Americans using the feature within the past year. This led to the popularity of mobile payment apps including Venmo which is owned by Paypal.
Venmo—available only in the U.S.—is a digital payment app that allows users to operate a cashless method of transferring money. Its function goes beyond that, it can also be used to make purchases in stores, and trade cryptocurrency. As of November 2021, Venmo has more than 80 million users.
Here are the latest updates from Venmo
#VenmoU $500K Finals Giveaway
A recent study found that almost 2 out of 3 students work part-time with 20% of them working at least 30 hours per week. As a way to give students an opportunity to earn extra money, Venmo will be giving them a chance to win a total of $500,000 in cash prizes. The amount to be given ranges from $5 to $500, with one lucky student winning $10,000 to start their summer on a high note.
Venmo will be touring college campuses across the country to give students the chance to enter and win. The campaign started during finals week and will run through the end of May.
To participate, students with a Venmo account can simply scan the Venmo QR code on their respective campuses, provide the phone number associated with their account, and then tap submit.
Participants can also register online at venmo.com/venmou through May 31, 2022.
Venmo has also partnered up with musical artists Pink Sweat$, mxmtoon, Tai Verdes, and Blu DeTiger to make the occasion fascinating. For updates on where to catch Venmo on-campus and more information, follow Venmo’s official Instagram, TikTok, and Twitter accounts.
Venmo Launched The Gift-Wrapping Feature
Customers continue to embrace digital payments in their everyday lives including gift-giving. In the past year, 78% of Venmo users revealed that they have sent money as a gift via Venmo, with the majority of those surveyed citing ease of sending as one of the top reasons for choosing to send opt for an electronic method.
With this in mind, Venmo latest feature enables users to access eight beautiful animated gift-wrapping designs which they can insert when they send gifts (money) to their loved ones via Venmo. This development aims to enhance the gifting experience of users and help them celebrate any occasion.
Venmo users can send their gift-wrapped payment at no extra cost in just a few steps:
- Step 1:Tap the Pay or Request button on the home screen and add the recipient, payment note, and payment amount.
- Step 2: Tap the gift-wrap icon (next to the “Pay” button) and choose the gift-wrap design you would like to send along with their payment.
- Step 3: Preview the animation, confirm and send.
Upon approval, the recipient will receive a notification in their Venmo app where they will be able to unwrap their gift and view the custom animated design. Both the sender and recipient can choose to rewatch the animation at any time from the payment details screen.
Conclusion
With an exciting new feature for free and a campaign to help students financially, it is gratifying to know that Venmo is working with its users in mind.