How Venmo Makes Its Money

With all of these users, at some point, you gotta wonder how on Earth Venmo makes money as a business.

And so we’re going to look at the different ways Venmo makes money, as well as some of the statistics that go along with those money-making methods. But first

For those of you living under a rock, Venmo is a person-to-person payment service. And they offer the ability to send payments more conveniently compared to writing a check or wiring money. Instead, making it a simple tap-and-pay process.

And because it’s a free-to-use app, they need to make their cut off the top of transactions. For example:

With all of these charges, it would help to make a diagram of where Venmo collects the drops in their bucket.

At nearly every stage the user was charged a percent of the $100. Now, this is a more exaggerated view, but it displays how or where Venmo has an opportunity to make money.

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The global ubiquity of technology is a striking feature of the 21st century and late capitalism. We bring together works that speak to the wider set of questions surrounding the global uptake of technologies.