For those who don’t know, Venmo is a popular fintech app in the US. Owned by PayPal, it’s P2P payments, bill splitting, etc. Essentially it’s a digital wallet built on top of PayPal, but here’s the bit I find really interesting - their social payments feed.
Basically, when paying someone, everyone in your Venmo social group sees it. The actual numerical value is hidden, but people see that Person A paid Person B for Reason XYZ. To a large group of people this would be absolute anathema, but it’s become a hugely popular feature according to my friends in the US - turning payments into a far more social activity.
We’ve seen this to some degree on our Beta as well, with the notes feature and people almost using it as a messaging service by sending regular 1p payments with notes attached that then turned into a conversation!
What do you guys think about this kind of thing? Do you see payments becoming a far more social activity?