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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.
The Simplicity – 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.