Brand New Venmo Apps for iPhone and Android
Today, we are releasing new versions of the Venmo apps for iPhone and Android with a bunch of new updates that make the Venmo experience a lot more fun and more convenient. A few weeks ago, we announced that the process of withdrawing money you receive on Venmo to your bank account will be much faster. We accomplished this by establishing relationships with better banking partners who want to help us handle our rapidly growing transaction volume and continue to provide an excpetional experience.
Now, we are excited to complement these faster processing times with a suite of awesome new features in our mobile apps.
Faster Payments with Friends You Frequently Pay
Based on an analysis of Venmo payments we recently conducted, we found that most Venmo users perform a majority of their transactions with their four closest friends. So, to make it even easier to pay back your most frequent Venmo buddies, in addition to presenting you a searchable list of all your friends, we have a new Quick List of recent contacts you can select as a recipient with a single tap. This Quick List actually makes a Venmo payment a lot faster, kind of like the Fast Cash option on an ATM machine does.
Venmo Places
A few weeks ago, we categorized all of the social payments that happened on Venmo in 2010. While there were thousands of different use cases, by far the most popular category was friends splitting lunch, dinner, and drink bills with each other. Everyone knows how annoying and stressful that situation can be when the waiter brings a check to your party of six. The Venmo apps for iPhone and Android make it super simple to settle the bill evenly (to the penny, if you like), and given the number of people that are using Venmo to split the bill when they go out, we have integrated with Foursquare and Facebook places to allow you to attach a location to every payment you make.
Venmo Places also makes it really easy to see how often and how much you are spending with your friends at your favorite spots ( so now you’ll know how much you’re spending on those tasty but pricey burgers at the Spotted Pig ).
Plus, when you publish a payment tagged with a place, it’s a fun way to share your experience with any of your Facebook, Twitter, or Venmo friends who might not have been there. We like to think of it as the “check-out” followup to a Foursquare or Facebook “check-in.”
More Social, More Fun
Sharing Venmo payments with friends is one of the features users love about Venmo that they just cannot get with any other payment method. With the latest apps, we’ve added better controls for managing your sharing preferences and privacy, as well as push notifications for payments made by your friends.
Stats
One of the benefits of using Venmo over cash or check is better tracking of your social spending. In the new apps, we’ve added a Stats screen you’ll see after every payment you make.
Here, you can see the total number of social payments you have made on Venmo, how many friends you’ve spent money with, how many times you have transacted with the particular friend involved in the most recent payment, and how many times you have paid at the place you have tagged in your last payment. It’s like a mini Mint report, delivered in real time, straight to your device.
Enjoy the app updates!
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