PayPal’s Venmo allows users to send and receive funds through a smartphone app and . A Venmo subscriber can link his debit and bank accounts with the app to fund purchases or to transfer funds into a bank account. Venmo charges nothing for payments made using a Venmo balance, a bank account, a debit card, or a prepaid card. Receiving money and making purchases via another app is also free. Using Venmo with a credit card results in a 3% fee. And encryption is used to make sure that transactions are secure.
PayPal’s Venmo announces a brand new digital credit card for subscribers
