That wouldn't work so well if you were always receiving money or always sending it, but if you have a pretty even mix then it works great.

I get what you're saying, but it isn't difficult to see why people find Venom a better option. What is exactly that bad about Venmo having your credit card number? You're protected from fraud anyway.

Check method:

  Needed items:
    Payer - checkbook, pen
    Payee - phone

  Steps:
    Payer        Payee
    Write check
    Give check   Receive check
                 Sign check
                 Use app to photograph and submit check

  Needed items:
    Payer - phone
    Payee - phone

  Steps:
    Payer            Payee
    Send $x to Payee

Cash is a better equivalence to Venmo, but only works when you're physically collocated. And then requires one or both parties to carry around cash (and it's not as easy to be precise, if you care about getting it right down to the penny).

Unless you have some sort of obsolete bank then paying your landlord by check is just as easy/fast as any app.

This is how I pay rent:

1) login to bank website

2) click bill pay

3) put in amount in the right place (this was previously set up)

4) Click make payments

The bank then mails your landlord a check. You can even schedule payments automatically.

If get a new landlord:

1) click add company or person to pay

2) click person

3) Enter person's name, address, and phone number.

4) Click add person.

And do you expect your landlord to pay a premium to take a credit card?

You can also pay every one of your bills at the same time (credit cards, loans, etc...)

Which is why check payments dominate larger transactions. Merchant fees are expensive compared to an ACH check fee (25 cents tops).

EDIT: Oh, apparently we're going to talk about their business model now instead. Jeez, it's hard to keep up.

Good luck with that long term!

http://www.npr.org/sections/money/2013/10/04/229224964/episo... is a Planet Money episode that goes into details of how it works.

And I have never written a check.

I doubt the people in Venmo's demo even know where their checkbook is, if they have one at all.

I think we've had quite a few articles on HN that show that isn't true.

http://qz.com/277509/read-what-happens-when-a-bunch-of-over-...

Your kid's school doesn't take Venmo for field trips. Or school lunch programs. Or extracurricular activities. That's just to name a few "adult" things Venmo doesn't support, and requires a checkbook.

Great, you can pay friends back for rent, drinks, or eating out. #millenialproblems

If you're a parent, you're paying for things that require a check or cash. The check then become's "frictionless" as you already require it.

I can still see situations where I'd prefer this (or similar) to cash. For covers at bars ("oops, forgot to hit the ATM! Can you get me?"), for buying tickets to shows (to ensure we're seated near each other), and other situations. But they're still infrequent compared to a decade ago for me.

If everyone got $20 from the ATM earlier what's to stop them from using their debt card to pay the bill? I was a server for many years and splitting the bill is standard for most younger people.

Getting paid back with cash would've been a nightmare. Instead I opened Venmo, put in $150, entered the names of my colleagues who were partaking, and hit request. Venmo did the math and requested each person's portion with a push notification. They each confirmed, and I was paid back in full in a few minutes, without even needing to talk directly to most of the people involved.

There are so many situations like this. "But you could do it another more inconvenient way instead" or "you could continue to deal with recouping for hours afterward" aren't especially compelling arguments once you've had the convenience.

If everyone chips in a $20 or two, but there's a wide spread in min and max spend per person, getting the correct increments of change to distribute to each diner in the party becomes an efficiency nightmare. Nevermind the fact that it's just plain stupid when reasonable alternatives (Venmo, Square Cash, etc.) exist.

>splitting the bill is standard for most younger people

There are many food and drink establishments with a "no splitting of bills, ever" policy. This is more prevalent in some cities than others.

But that's ok.