Venmo: The Invisible Pocket

So if you want to stalk, track, call, hang, or just wondering where in the world is Tala Goudarzi (Carmen Sandiago reference)…..I’m in DC. Yes it’s “sprang braak” but I chose to city slick instead of going to somewhere tropical.

Anyways, last night when we went out, I needed to pay for my dinner at a nice Indian restaurant. Of course, however, instead of everything running smoothly AND after I called the credit card place, my card got declined.

I thought all hope was lost. My face immediately turned redder than a ginger kid’s sunburn in St. Thomas. I had three options: do the dishes, cry, or run away.

However, instead of asking my friends to embarrassingly buy my chicken tikka, I asked one to spot me and I would “Venmo” her the money as soon as I called my bank to YET AGAIN tell them I was not a fraud.

Well have no worries because I got everything taken care of, but the important message was not my story of humiliation (although I’m really glad you all care), but about Venmo the app/company/system itself.

This app allows you to transfer money just with a touch of a button on your smart phone from your credit card to another. It is safe and very user friendly.

This isn’t a excerpt promoting the company or me being like “GUYS! CHECK OUT THIS SICK NEW APP,” but it does bring up the idea of virtual banking and the future of money/banking technology.

Will everyone begin to use Venmo as means of payment system? Will we eventually no longer need hard cash anymore?

When I order a pizza, maybe I could just Venmo the delivery guy some money. Also if the card was connecting directly to the pizza man’s credit card, it would eliminate the “middle man” (aka the employer) and the pizza delivery man would immediately benefit from a hard night’s work. He wouldn’t have to wait for his paycheck every month.

When I go to a restaurant, I can pay electronically, through Venmo or, I’m assuming, new companies that will form to try and compete. This would eliminate waste of printing out receipts and take away the waiting time for the check.

Also this system has the potential (if it doesn’t already do this) to connect people internationally. Say your aunt goes to Italy and you want her to bring back a ton of spices for you and your friends. Well you immediately Venmo her the money from your house in (I don’t know) California.

This simple app can revolutionize our payment system and change it completely in the future.

Of course there’s loopholes and it brings up more possibility possibly for cyber hack/fraud, but I’m sure if this trend grew, companies, like Venmo for now, would work to eliminate these issues.

What do you all think? Do you think Venmo payment system is the way of the future? Do you like this app? Do you use it or why DON’T you use it?


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