191–200 of 293 posts
It would be interesting if a user's social graph could be used to assess creditworthiness. If so they could remove a lot of friction either by reducing fees or assuming a certain degree of credit upfront.
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At least for my demographic in NYC it feels like Venmo has enough traction that there isn't much friction if you ask to be paid/pay with Venmo. Enough people have it that the odd one out who doesn't feels compelled to sign up, and the onboarding is also fast enough that people can sign up while waiting for the check at a restaurant, for example.
All that says is that Venmo has traction among your immediate peers. If Paypal/Square wallet/Bitcoin had the same traction, the rest of your comment would still be hold.
> At this point, I just want one of these pay-with-your-phone solutions to win and be ubiquitous.
I'm not saying this is a clear winner, just that Venmo is well on its way to ubiquity in this market, at least within my demographic/peer group. I'm fairly social, and I try to keep an eye on the tech that people I meet who don't work in tech are using, and Venmo certainly stands out in that regard.
A natural addition. And just like Square Cash, just enter bank issued debit card for fee-free transactions. Now if it would work outside the US and in-between different countries, that'd be the killer app. Is there anything close to that dream?
Check out transferwise.com.
I skimmed through the comments and thought "What is Venmo and how terrible am I for not knowing about it sooner?" I then searched for the term on the page and noticed that the term is largely clustered around two threads; one of which the users both drop the name so much I had to check if they worked for the company. No offense to those who enjoy Venmo and its services, but this thread is a great example of HN commen…
Actually, I think it's an example of a generation gap. HN skews older than Venmo. http://www.businessinsider.com/venmo-splitting-a-group-check...
I just did a quick run through of my office (Minneapolis/St Paul snowboard, etc. online retailer): asking who has heard of it or uses it. Of the 30 or so I asked, 1 person has it on his phone and he says he never uses it.
I _did_ have a conversation where I was told 'I usually pick it up then they get me back later' which a few people in earshot agreed with.
Maybe there needs to be an app to track who owes you drinks?
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The points are that you don't need 1. a bank account 2. a debit/credit card 3. facebook messenger in order to send money instantly.
You just need a bitcoin balance and the recipient needs a bitcoin address. Which practically seems like way more friction than the three items you listed.
I skimmed through the comments and thought "What is Venmo and how terrible am I for not knowing about it sooner?" I then searched for the term on the page and noticed that the term is largely clustered around two threads; one of which the users both drop the name so much I had to check if they worked for the company. No offense to those who enjoy Venmo and its services, but this thread is a great example of HN commen…
Among the disjoint groups of my own friends and my girlfriends' friends (none of whom code or are tech savvy at all), everyone I know in NYC uses Venmo. I learned about it from non-tech people. It could be because Venmo advertised very heavily in NYC mass transit a long time ago. My friends in the Bay Area, in contrast, are far less likely to know about Venmo and either use none of these options or are pretty fragmen…
I skimmed through the comments and thought "What is Venmo and how terrible am I for not knowing about it sooner?" I then searched for the term on the page and noticed that the term is largely clustered around two threads; one of which the users both drop the name so much I had to check if they worked for the company. No offense to those who enjoy Venmo and its services, but this thread is a great example of HN commen…
Actually, I think it's an example of a generation gap. HN skews older than Venmo. http://www.businessinsider.com/venmo-splitting-a-group-check...
Back in my day, I thought we called those things favors. :)
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It's bizzare that our financial sector is the largest area of the economy and yet has not managed to produce any innovation in this regard. Shouldn't banks be giving us easy ways to transfer money? Isn't this their function? Financial services?
Here in Canada, I can do an email money transfer to virtually any financial institution. All the recipient needs to do is bank with one that supports it and use online banking. I don't know how innovative it is, but it works relatively well. https://www.interac.ca/en/interac-etransfer/etransfer-detail
edit: s/screenshot/photo/
"Hey RELATIVE it's me here on Facebook I had to get a new account because I'm in trouble here in FOREIGN COUNTRY so please send me money. It's really easy and I need it bad! Just enter your credit card and I will be saved!" I know, I know, it's not the tool...but I am reminded of a certain scene from The Fifth Element... "I hate warriors, too narrow-minded. I'll tell you what I do like though: a killer, a dyed-in-the…
Well in this case it looks like you need to be friends, so any spam requests from non-friends would likely go into the never seen abyss that is the 'other' folder. That being said, if you haven't ever checked your 'other' folder you probably should. Last time I saw this mentioned people had missed wedding invitations, potential dates and more from people they weren't facebook friends with trying to reach them. You ge…
Earlier quoted context omitted.
All that says is that Venmo has traction among your immediate peers. If Paypal/Square wallet/Bitcoin had the same traction, the rest of your comment would still be hold.
Sure, but that was really my point: I was just offering a tiny data point on the progress towards the goal that the person I was replying to expressed: > At this point, I just want one of these pay-with-your-phone solutions to win and be ubiquitous. I'm not saying this is a clear winner, just that Venmo is well on its way to ubiquity in this market, at least within my demographic/peer group. I'm fairly social, and I…