Venmo users transferred $1 billion in January alone

Julie Kliegman's avatar
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Venmo users transfer $1 billion in first month of 2016.
(Image credit: iStock)

Venmo is reportedly not the safest money-transferring app out there, but it sure is popular: In January, users transferred $1 billion worth of payments over Venmo, the company announced Tuesday. In all of 2015, Venmo saw $7.5 billion transferred.

The app's January payment volume was 2.5 times greater than it was in January 2015, and 10 times greater than January 2014.

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Julie Kliegman
Julie Kliegman

Julie Kliegman is a freelance writer based in New York. Her work has appeared in BuzzFeed, Vox, Mental Floss, Paste, the Tampa Bay Times and PolitiFact. Her cats can do somersaults.