How does Venmo make money without fees? Venmo is an app often advertised as a mobile wallet. Truth be told, this software is probably the best iteration of that phrase. It allows people to send funds between each other and to pay for certain products and services.
A lot of people still don’t know how does Venmo make money. It is a relatively new app owned by PayPal. While there are some concerns about Venmo, and in particular its privacy, the steady growth indicates that more and more people will rely on its features in the near future.