US-based Venmo is a surprising thing: a social messaging app based around payments. Actually, says Venmo’s head of product Ben Mills, it’s not surprising at all. It was designed that way.
MEF Minute’s features editor, Tim Green caught up with Mills to discuss how the company has combined payments, messaging and social media to build its billion-dollar business model.
In the US everyone knows about Venmo. In a country that still likes to use cheques, this person-to-person payments app offers a glimpse of the future. Venmo lets people send money to each other instantly.