Why Don’t Many People Trust Venmo?

7 thoughts on “Why Don’t Many People Trust Venmo?

  1. I thought this was an interesting insight into what Venmo is, as well as how it can be useful. I personally am an active user of Venmo, and so far have enjoyed the benefits of it. One of the major benefits is when you are unable to give someone cash up front such as if you are in a different state or country. I think that some people are concerned about the safety of Venmo and whether or not they can trust the app with their bank account information or credit card. I also found it interesting how you mentioned that Venmo is set up similar to that of a typical social media app. I think that users enjoy Venmo because of this timeline-feel and the ability to use emoji’s and text to make transactions friendly.

  2. I think this is a really great intake on what venmo is. I am a venmo user myself and definitely see the benefits of using it. It can make life super easy if you don’t have the means to pay for something up front. I can see why people wouldn’t trust using it, but so far I have had no problems and will continue to use it in the future.

  3. This was a great message on what Venmo is and what its true purposes are. I find it interesting how some people are still so reluctant to use Venmo. I personally think it was a great technological advancement in society. Now no one has an excuse as to why they can not pay you back! You can even request someone to pay you via Venmo, which eliminates the awkwardness often associated with asking someone for money. Not to mention the data tracking that goes on behind Venmo…I mean marketers can literally see what you are spending your money on as Venmo requires that you list what the payment is for. May sound creepy but it is actually brilliant!

  4. I like how you clearly described Venmo’s purpose and how it is step up. Personally, I use venmo all the time so it was interesting to hear another person’s perspective on the app. I know a lot of people may be reluctant to use the app because the money takes a few days to transfer into your account.

  5. Sean, I think you did a great job coming up with a simple explanation that people can understand. Even I, when I first got Venmo, was skeptical to use it, however it does serve a great purpose and you outlined that well. Another thing I thought worked well about this was how you specifically addressed a possible concern someone may have. The idea and execution is a great advancement in technology in my opinion, especially so IOU’s can be completed much more swiftly.

  6. I really like your presentation of this topic-I find that Venmo is so common around here that it’s really frustrating to meet someone that doesn’t have it. I think its ease of use and social component scares off some people, but it is just so useful for things like handling electric bills or getting something to eat. No longer do people not have an excuse to forget to pay each other back, which I think we can all agree is a good thing.

  7. Thanks for providing a quick and detailed report on Venmo! When I first heard about it freshman year I was definitely skeptical too, and I can remember calling my mom and asking her how legitimate it sounded. She wasn’t too convinced that I should sign up, but I have been using it ever since! I think it is interesting how it intersects both banking and social media. I think it is the social aspect that has driven it to succeed so much, especially among college-age students.

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