<p><span>Cash rules everything around me, but it sure would be nice to have an app for ruling my cash. Money is dirty, credit cards are confusing and predatory, no one wants to do too much math, and writing a check is as antiquated as writing cursive. Venmo solves many of these problems. This free app lets you easily send and receive cash from friends, a basic but incredibly useful function. While it may rely too much on existing social networks, Venmo's clear focus and strong execution make it one of the best overall mobile payment systems and our Editors' Choice.</span></p>
<p><strong><span>Free Market<br /></span></strong>Venmo works on iOS, Android, and Windows Phone. There's a <a href="http://www.venmo.com">dedicated website</a> as well. I've been using it for months on an <a class='' href='http://www.pcmag.com/article2/0,2817,2399642,00.asp'>iPhone 4S<a class="zdcse" data-affiliate-ziffcat="4362"></a></a> with no difficulties. After creating an account, you flesh out your profile with information such as debit card details, connecting with friends already on the platform, and linking directly to a bank account, to authenticate yourself on the platform. Entering more information raises the amount of money you can send or receive at once, from a $300 weekly cap to $3,000. This falls behind <a class='' href='http://www.pcmag.com/article2/0,2817,2393962,00.asp'>Google Wallet's</a> $5,000 daily limit, but should still be enough for most users.</p>
<p><span>Unfortunately, there's no way to circumvent the 3 percent fee on funds taken from a credit card or a non-major debit card. This limitation is better than Google Wallet's similar tax on all cash taken from cards and <a class='' href='http://www.pcmag.com/article2/0,2817,2484043,00.asp'>Square Cash's</a> lack of support for credit cards period, but losing money is never fun.</span></p>
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<p><strong><span>Supply and Demand<br /></span></strong>To help you give and get cash from your friends, Venmo first needs to know who your friends are. The app analyzes your phone's contact list to find fellow Venmo users. You can also invite anyone you know to try out the service. Those two methods work fine, but Venmo prefers to import your Facebook profile to generate a potential friends list. In practice this isn't always the best choice. Making a transaction with someone you're not friends with on Facebook is possible, but it feels drawn-out, like the app is discouraging it. I ended up friending a complete stranger just to sell them a cheap bookcase because it was the quickest, simplest option. Both parties need to download the app and agree to the transaction before any money moves anyway, and if you're not on Facebook, you can sign in with your email instead, so why pressure users to jump through this Facebook hoop?</p>
<p>Meanwhile, you can also choose to share your transactions on Facebook for your friends to see. Transactions are uncomfortably visible by default, but it's easy to restrict the information to "participants only." Occasionally this feature leads to some funny, cryptic stories of past wild nights out for friends to like and comment on. "Tony S." paid "Bruce B." $10,000 for "Science Bro Stuff." The appeal is obvious. Friends love flaunting inside jokes on the Internet. But honestly, do other people really need to know who you're sending money to and how much? Venmo is now powered by the payment experts at <a class='' href='http://www.pcmag.com/article2/0,2817,2461266,00.asp'>PayPal</a>, so I trust its security. I just don't trust the public's ability to determine which information should or shouldn't be shared on the Internet.</p>
<p><a href="javascript:OpenImageWindow('http://www.pcmag.com/image_popup/0,1740,iid=455058,00.asp', '309', '463')"><img alt='Venmo' border='0' class='left' src='https://assets.pcmag.com/media/images/465305-venmo-inline.png?thumb=y'></a>Potential privacy panics aside, Venmo's Facebook integration might also be one of its greatest strengths. Not only is Facebook arguably the quickest way to find most people's friends, the constant news feed gives the impression that everyone else is using Venmo so you should too. Watch the perspective-warping power of social media in action. While other mobile payment services may offer cool features Venmo lacks, these apps are only actually useful if your friends are on them too. Mobile payment apps are all about making sharing money less complicated, and if you have to download some new app to get back the five bucks you lent a buddy a few days ago, that's just another hassle. Friends, unlike merchants, don't have the luxury of devices like <a class='' href='http://www.pcmag.com/article2/0,2817,2380586,00.asp'>Square</a> to get paid via debit and credit cards. But with Venmo, you get something just as convenient. So it's in everyone's best interest, manufacturer and users alike, that more people use the app. Venmo has been my personal go-to mobile payment option for months simply because all of my friends are using it too.</p>
<p><span>Fortunately, Venmo's effortless payment system makes it an app worth relying on. Tap the bill icon in the top-right corner, select a friend, choose between paying money or asking for it, write a description for the transaction, and send the bill. Venmo alerts you if and when your friend complies or when you have new pending debts of your own. The app keeps a running list of past transactions you can check. Money added shows up in green while money paid out is red. Like <a class='' href='http://www.pcmag.com/article2/0,2817,2409382,00.asp'>PayPal</a>, you can use the app itself as a virtual wallet to store funds or cash out and transfer the money directly to a bank account after a few days of processing time. That's all there is to it.</span></p>
<p><strong><span>Money Over Everything<br /></span></strong>Other mobile payments apps move money between people. Venmo moves money between friends. That focus makes all the difference. It may not do that many things, but it does the one important thing it was designed to do very well. Besides, complexity so often is what gets people into money trouble in the first place. So I appreciate Venmo's simplicity. While it may exacerbate your Facebook friends' tendencies to overshare, Venmo will also help you make sure those same friends pay you back. It's our top pick for mobile payment apps.</p>