It’s time to celebrate Venmo users. In recent and exciting news for those with the app, and even those who don’t, Venmo has announced that you can now shop online at select stores using your very own Venmo money. This list includes Foot Locker and Lululemon, among many others, millions of others to be exact.
The ever-growing app that allows users to pay each other with the simple swipe and tap of their screen is going outside of that realm for the very first time. Anyone who uses this app, and a phenomenal app at that, knows how quick and useful it can be for transactions ranging anywhere from a couple bucks to much larger amounts. Going out for a bite with some friends but forgot your wallet? Just Venmo your friend for the price of the split and call it a day.
This move seems to be next level for them. One of the great features of the app is stockpiling some money and not having to dip into your actual bank account to pay someone back. It will be nice to know now that if you have compiled over $100 for example, you can just go to Foot Locker and get that new pair of shoes you wanted. Not just that, but you can do so without having to transfer money from accounts or having to go through the tedious process of typing in credit card numbers and info. Another great bit of info on this announcement is that you can even split the payments with other friends.
PayPal (PYPL), who acquired Venmo for $800 million should also be ecstatic about the recent news. Venmo has said that the choice to use its platform to pay for your goods online will be available almost everywhere you can use PayPal. As if the app wasn’t already extremely popular, especially for millennial’s, it should see its market grow to an even older crowd as shopping will become that much easier. Get ready for the next revolution in online shopping.