CNET asks New Yorkers: How do you Venmo?We visit Grand Central Terminal with Venmo's co-founder to quiz folks about the payments app.
[MUSIC] Hey what's up everybody It's Ben Fox Martin with CNet. I am here with Iqram Co-founder of Venmo. And were here at Grand Central we are going to be talking to people on how they use Venmo or if they've even heard about it, You excited Yeah Very. .>> Alright, let's do it. Ok. Have you heard of Venmo? Yeah. Yes, actually, yeah. Do you use it? Yes. We use it all the time. Yeah. What do you use it for? Usually when we owe each other money we'll put some nasty title in there. Have you ever heard of Venmo? Yeah, I use it all the time. What do you use it for? If I go out with friends and everyone tries to use 10,000 credit cards. I'm like [BLEEP] that, no. I'll just pay on Venmo. Yeah, that's fine. We can drop the f bomb, right? Yeah, that's totally normal. I probably use it but I'm not sure. What? [LAUGH] Do you wanna pull out your phone and see if you have it? I probably do, I'm not sure. Yeah, you might have it. Boom, another happy Venmo user. Have you ever heard of Venmo? Of what? Venmo. No, I have not. Okay. Is that the end of the interview? [LAUGH] [LAUGH] So what do you use if you have to pay a friend back some money? Not a lot, like $15 or something, usually, what do you do? I would pay them the money. Like cash, or you would write them a check [LAUGH]? Of course you would pay them the money. Venmo? Venmo. As in, V-E-N-V-O? V-E-N-M-O. I'm not familiar with it. I haven't heard of it. Okay. What do you think it might be? I think it might be some kind of a new cell phone? Yeah. Or maybe some kind of a software for antivirus? An antivirus software or a new cellphone? Have you ever heard of Venmo? Yes, just last night. Just last night? Explain. My boss was talking about, asking if I was Venmoing someone. I said no. So what would you tell the Venmo people, about their app? And it sounds like a neat idea but it's probably just not for me right now. Thanks. Hopefully you'll give it a shot. Pleased to meet you. Nice to meet you too. That's awesome. Yeah, yeah. He sold Venmo a while ago so maybe he can buy you dinner or something. Hell yeah he can, where shall we go? [LAUGHTER] What do you think Venmo stands for? No idea. I've thought about that, I'm just like why? No, I don't care about these things. What does Venmo mean? Do you know what it stands for? I have no idea, but I'd like to know. What would you guess? [MUSIC] Would [BLEEP] the entry not? [LAUGH] [LAUGH] I don't know. All right, yeah, so this is the close. Like we're basically done, great. So what does Venmo stand for? Vendor meets mobile, so vendor mobile combined is venmo. Vendor mobile, that's much more boring than whatever she was going for. That is, yeah I know. I wish we were that creative back then. Right, right. [LAUGH] I don't think anybody would have used that. [LAUGH] Anyway, all right. Thanks for doing this, man, I really appreciate it. Yeah, man. All right. Been Fox Rubin with CNET. Thanks for watching, everybody. [LAUGH]