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I always used to wonder why Venmo exists, now this explanation covers it: There are people on HN who are adamant that they understand users needs.
by akhatri_aus 9y ago
I always used to wonder why Venmo exists, now this explanation covers it: There are people on HN who are adamant that they understand users needs.
- pbreit 9y agoVenmo processed about $20 billion in 2016. ACH: $45 trillion. And Venmo would not exist without ACH.
- akhatri_aus 9y agoNonetheless Venmo exists for a reason, User need. It would also be more comparable if one were to be able to buy Government bonds as a corporation using Venmo to make your comparison aapt, alas you can't do that. If one were to compare sub $50 payments on retail banking ACH vs Venmo you would have some valuable information indeed.