News & Events, Tech

How Venmo is trying to become a social media platform

Hello stickers.

words by: Sahar Khraibani
Jan 21, 2020

There are more ways than ever before to pay people over the internet. Between PayPal, Venmo, CashApp, and direct bank transfers, there is no shortage of ways to send money back and forth. But here’s the biggest difference: Venmo’s feed is famous for allowing users to not-so-secretly watch other people’s transactions. Some studies have even revealed that the average user checks the app two or three times a week – ”not just for payments, but to see what their friends and family are doing.” 

Here’s the good news: soon, you will be able to include to use custom animated stickers designed by Holler, a company that specializes in designs of stickers for messages. Say goodbye to your lame emoji choices, now your Venmo feed will be crowded with GIFs. 

The peer-to-peer payment company is set to integrate Holler stickers into its app as of next week, with a full roll-out due on January 31st. Holler’s keyword suggestion technology will give users the option to insert unique GIFs into their transaction notes. Venmo seems to be putting all its weight on the social aspect of the app. While initially, it was just an easy way to send money, today users can be found checking in on their ex’s completed payments or even chatting on the platform.

Who knows, perhaps Venmo will render iMessage and DMs obsolete. Is this capitalism’s final form?