by Greg Guenthner
Daily Reckoning
Still waiting on your deadbeat friend to pay you back for that lunch you shared two months ago?
PayPal’s popular new payment app has a solution for you.
The app is called Venmo—and it’s quickly becoming an everyday name in the mobile payments game. Getting started is as easy as adding a new credit card to your Amazon account. The app automatically syncs your contacts through your phone. Then you’re ready to make payments to friends, coworkers, and family.
To make a payment, all you have to do is pick up your phone. No checks, cards, or cash necessary. It’s that simple. Folks are using the app for everything from buying a cup of coffee to paying rent.