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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
What are 'freakosystems' and how are they affecting the planet?The explainer Ecosystems are changing permanently
-
'The question is what it does for the ecosystem'Instant Opinion Opinion, comment and editorials of the day
-
August 26 editorial cartoonsCartoons Tuesday’s political cartoons include a simple guide to gerrymandering, a MAGA-approved Cracker Barrel logo, and an FBI raid at John Bolton's house
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
