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Venmo Review
- starnix17 15y agoOne of the (few?) best startups in Philly, very nice founders and employees.
- dillona 15y agoIt is a prettier PayPal. The only difference is a few features and that (for now) they aren't charging fees.
- jordanekay 15y agoNo, it's not, at all.
- glhaynes 15y agoThey'll need to explain really strongly why it's not, then, because that'll be all most people will think.
- ujjvala 15y agoHow did this app for iPhone got accepted when the Bitcoin app was rejected ?
- gfunk911 15y agoBug, they rejected my CC with exp date of this month as expired. Lost a user.
- jcampbell1 15y agoI am going to signup for 2 accounts and max out the airline miles on my credit cards every month... just kidding. I actually did this in college when the federal government allowed people to buy savings bonds with a credit card. Unless they have really good controls, I can see some enterprising college kid pumping 250k through this service and showing off an Amex black card.
- solutionyogi 15y agoWhy the downvote? I am not the OP but I agree with the basic premise. Any start up dealing with money has to think about people who will abuse the system. I hope they have checks in place to avoid something like this.
- deleted 15y ago[deleted]
- andrewpi 15y agoI don't understand how Venmo will continue after they burn through the VC money. Won't the credit card fees eat them alive?
- rflrob 15y agoMy understanding is that they do charge some fee to places like food trucks. The way it's structured, though, they encourage the users to keep some amount (c. $20) in their Venmo accounts, so that when you pay someone, it gets taken out of that first, then only falls back to your credit card or bank account when necessary. Depending on how frequently people cash out, they might even be able to make a small amount on interest by investing the amounts that people have on file, and just shifting the chits around.
- dools 15y agoSheesh, any other Aussies tired of seeing cool shit like this and not being able to use it!?
- thinkcomp 15y agoI'm not clear on Venmo's money transmitter license situation, especially in Pennsylvania. Anyone know how they can operate legally nationwide? (I am a competitor but this is a real question.)
- rflrob 15y agoI had my most recent "I live in the future" moment when I, between getting off of public transit and arriving at the food truck, received the menu from a friend, picked what I wanted, then paid the same friend for that food, all through my iPhone, and all the while knowing exactly where the other person was using GeoShare[1][2] [1] http://geoshare.us/ http://geoshare.us/ [2] http://news.ycombinator.com/item?id=2093261 http://news.ycombinator.com/item?id=2093261
- dpres 15y agoVenmo's privacy settings need work. You can't hide the $ amount and publish only the payment description. You can either publish it to all friends or keep the whole payment private.