[stevesearer]

They also charge a 3% fee on money sent using a credit card. Many of my friends just have a balance sitting in their Venmo account because they use it so often to pay for things from rent to groceries to splitting a bill at a restaurant. No idea of the metrics of how much can be made from the interest on those balances though.

[ennuihenry]

They don't make the 3%, probably like a 1% spread after interchange fees. But they have a huge team, lots of software developers. So they most likely don't make a profit.