How Venmo makes money

9:59 AM ET Wed, 24 April 2019

Venmo has revolutionized the way pay each other back. From sending roommates the rent check to reimbursing friends for dinner, people 'Venmo' each other all the time. But have you ever wondered how this fun, emoji laden payments app actually makes money? Well, for years, it hasn't. But now Venmo is on the cusp of profitability for its parent company, Paypal.