How many of you use Venmo?
I found this Article in CNN tech and is about that Venmo App lets you shop online As we know Venmo is an app that allows making instantaneously payments between friends. However, now Venmo isn’t for splitting brunch with your friends anymore. Now there is a new option that allows users make online purchases from more than two million retailers; in other words, this app changes from a peer-to-peer service to a more full-service payment platform. Which includes 21 forever, footlocker, etc.
But the question is, how this is going to work?
Well, when you make an online purchase, all you need to do is to select the PayPal existing payment network, then it will appear an additional option to pay with Venmo instead. This can be very useful because almost everywhere you see the PayPal Button. Each payment that has been made with Venmo, PayPal is going to charge the merchant fee, which is $0.30 per transaction.
Users will receive a notification in the app inviting them to turn on the new purchase mode. This feature will be very similar to PayPal, in other words, all you need to do is select “Pay with Venmo” through the PayPal section and its done!
The good thing about Venmo is the social feed because you can see who is paying to whom and what exactly has he/she paid by adding emoji comments. With this feature, users will have the ability to share their shopping purchases in the same feed as those friends’ payments.
Moreover, these purchases are only going to be authorized by mobile websites and in apps that already feature PayPal support, and not in Deskopt Computers. The excellent advantage is that retailers won’t have to any additional work to start to take people´s money via Venmo since the online purchases will show up in the Venmo transaction feed, therefore, some online stores may benefit from an extra social exposure. Soon we will see if the shops get growth with this new result of PayPal´s Venmo.