Review on Venmo by francis fernandez
Venmo: payment system always at your fingertips
Technology always pursues the comfort of its users as an end; for this it makes use of many resources that contribute to this end.
Venmo is a digital solution for mobile devices that provides its local users (USA) with the convenience of accessing the secure payment system based on blockchain technology at any time. This service is offered by the PayPal company.
Functions:
The basic function of the mobile platform is to serve as a payment gateway for the transfer of assets between users located geographically within the jurisdiction of the United States.
Technology:
The convenience and easy interface of the mobile application lies in the efficiency of its infrastructure based on a network system between equal servers; which affects the speed of your transactions since your servers maintain direct communication. This contributes to the creation of a secure payment platform that uses text messaging for the transfer of assets between its registrants.
The operation of the Venmo blockchain platform allows to comply with the accounting law by achieving equality between debits and credits.
Utilities:
One of the advantages that the platform offers in addition to its comfort; It is its admission as a form of payment in virtual stores and local businesses, thanks to the implementation of its payment mechanism with debit cards deductible from the funds in the user's account; that allows operations external to the peer to peer network.
The mobile platform also allows the acquisition of products within its infrastructure, thanks to its intelligent payment system, interoperable with other digital solutions.
Regarding transaction costs; Venmo offers free operations as long as no credit cards are used; in which case if a commission for the credit service equivalent to 3% is caused.
Pros
- Access to payments from the comfort of your mobile device
- Easy interface exchange system
- Non-custodial payment system
Cons
- Transfer service valid only within the United States
New products
Comments (1)
January 18, 2021
Venmo has a debit card for your quick access to fund at a go. Venmo is a mobile payment app worth considering. The Sites and app services you can pay using Venmo include Grubhub, and Uber (as well as Uber Eats).
