Venmo is trying to entice teens away from the Cash app with its new account
I remember when I was using Venmo all of the time. It was fun since there was a social element and almost everyone I knew was using it.
Erika Sanchez, Vice President and General Manager of Venmo, said in a statement that “Venmo is a natural place for teens to learn how to engage with money responsibly, especially considering 86% of Gen Z are interested in using an app to learn about personal finance.” The company says that teens will be able to customize their debit cards and use the app to see their own individual account balances. Parents will be able to monitor up to five teen accounts and even change the PIN or lock/unlock their teens’ cards.
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