Smart device users may agree that it almost feels like there is an app for everything, but how often can apps help conquer awkward social situations? The latest trend in app culture aims to make users’ entire lives easier: online payment transfer methods. Startups like Venmo have the potential to make everyday trivial struggles, like reminding a friend they owe you for that pizza last week, non existent, and you should be more than ready for it. Here are some reasons why these startups have the ability to find well-deserved mainstream success.
Once you have entered your billing information when you sign up, the most challenging of tasks are done. The design and execution of charging or paying back a friend are simple: if you are on the website, you simply click an agreement of the transaction. If you are on your phone, you text Venmo a number they have sent you that completes the transaction. Simple. Only takes a second. And you don’t have the feeling of “did I pay her back?” looming over you.
It Eliminates Confusion-
You and your friends are out at a restaurant and the bill comes. You no longer need to worry about the one friend who forgot their wallet, or the other whose credit card isn’t accepted. Have one person pay and charge the rest, making the process easier- no splitting between 4 cards. You can feel comfortable volunteering to pay for the meal because you know you can ask for your money back in seconds, and Venmo doesn’t keep a percentage of the money your friends will be sending you.
The Social Awkwardness is Gone-
Borrowing money from friends can be awkward, but the true uneasiness can stem from asking for it back. If you use an online method you can simply alert them of how much they owe you right away, and the request will sit in their account until it is paid. Additionally, you can send them a reminder if they forget to complete the payment. The benefit of online payment is it feels more like a business transaction rather than you sheepishly walking up to your roommate and mumbling “Hey, so, about that game of laser tag…” or something like that.
Venmo isn’t the only electronic payment startup that’s gaining users. Google Chase and Square Cash (along with one of the original online payment business, PayPal) are gaining popularity as our passion for tech and decreasing desire to use paper money progresses. Most of these startups have taken time to speed up, but it’s clear that now they are here, they’re not going anywhere. “Venmo Me” just may be the next popular phrase.
Do you think you have the lastest great app idea and want the online presence these startups initially lacked? Talk to our Website Development Team for guidance on how to make your website and app stand out as well as your ideas!