Startup Model – Making & Sharing Payments

THE MODEL: A mobile app that lets users make and share payments with other users. Users can use the app to make payments either in their Venmo accounts or from their bank accounts or debit cards. Users can also create memories by mentioning what the payment is made for (like splitting a bill, paying for holiday expenses etc.). Also money can transferred back into a bank account within 1 working day.

STARTUPVenmo (American startup)

payment apps


Core Idea – A platform for users to make and share payments with others.

Security – Security is a key aspect in this space. All data is encrypted, stored and protected on secure servers. Also the app has a security support team to answer any questions and concerns of users around safety.

Trust – Venmo is now part of Paypal (a leading online payments app) and the latter plans t let merchants make payments through the former. This adds trust in the minds of users.

Pricing for the User – The app is free to use with a bank account and debit cards. There is a 3% charge on credit cards and certain debit cards. Receiving money is totally free. This competitive pricing will help the app in gaining user traction.


Sustainability – Since the pricing is very competitive, long term sustainability of the startup is a concern.

Competition – The payment apps space has become very crowded. However, Venmo can benefit because of it being part of Paypal.

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