Thanks to debit cards, PayPal, and online banking, many Millennials have already done away with carrying cash, and now the app Venmo is giving them yet another way to pay without reaching for a wallet. The mobile-payment tool is becoming increasingly popular with young consumers who are saying “Just Venmo me” to split checks and pay back friends for everything from drinks to rent. Just how popular? Venmo handled $324 million in mobile payments in the first quarter of 2014, up 62% from the previous quarter. (Bloomberg)
