The do’s and don’ts of payment apps

You could say once your company becomes a verb, you’ve arrived. And “Venmo me” is a pretty common phrase these days. Mobile payment apps like Venmo, along with Zelle and Cash App, are becoming pretty widespread, especially among young people. According to the Federal Reserve Bank of Atlanta, consumers under the age of 25 were twice as likely to have used some kind of mobile payment app compared to older Americans. But as with any form of money, there is etiquette about how to use them. Marketplace’s Stephanie Hughes spoke with Yanely Espinal, host of Marketplace’s “Financially Inclined,” a video podcast that provides money lessons for teens, about the do’s and don’ts of these payment apps.