What are people paying for?
· by Venmo
Here at Venmo, part of paying your friends and family back through our app is sharing the experience through payment notes. We decided to take a look at these notes across our user base and see what people are up to.
So what does this all mean?
- The larger the word, the more it was used in payments notes. The most frequently used words describe payments for household bills like rent, and social activities like splitting a bill at a restaurant.
- The smaller, less frequent, words in the cloud tend to fall into the same overall categories of bills and social activities; but these less frequent words describe payments at a greater level of detail. For example, ‘bill’ is used very frequently and therefore is very large, but the many words describing those bills – including internet, cable, electricity, among others – are smaller.
- While food is an overarching category, the diverse tastes of the Venmo community are reflected in the many different types food and beverages that appear in the word cloud.
- People often use words that describe when the event related to a payment took place including months, holidays and special events.
- The emotive words used in payment notes tend to be very positive - love, sweet, delicious, best, etc.
Hopefully, next time we run this report, ‘awesome’ will be a little bit bigger.